Primo Water Co. (NYSE:PRMW) Plans — Dividend of $0.82

Primo Water Co. (NYSE:PRMW) announced a — dividend on Tuesday, October 15th, Wall Street Journal reports. Shareholders of record on Tuesday, November 5th will be paid a dividend of 0.82 per share on Thursday, November 21st. This represents a yield of 1.3%. The ex-dividend date is Tuesday, November 5th.

Primo Water has a dividend payout ratio of 37.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Primo Water to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 38.1%.

Primo Water Trading Up 1.1 %

Shares of PRMW stock opened at $26.53 on Monday. Primo Water has a twelve month low of $13.57 and a twelve month high of $28.06. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.93 and a beta of 1.10. The company’s 50-day moving average price is $25.01 and its 200-day moving average price is $22.64. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86.

Primo Water (NYSE:PRMW) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The business had revenue of $485.00 million during the quarter, compared to the consensus estimate of $477.40 million. During the same quarter last year, the firm earned $0.22 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts predict that Primo Water will post 0.88 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on PRMW shares. Raymond James lowered shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a report on Tuesday, October 1st. StockNews.com cut Primo Water from a “buy” rating to a “hold” rating in a research note on Sunday, October 13th. Finally, William Blair initiated coverage on Primo Water in a research note on Thursday, October 24th. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Company Profile

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.