Brokers Offer Predictions for Primo Water Q3 Earnings

Primo Water Co. (NYSE:PRMW) – Analysts at William Blair issued their Q3 2024 EPS estimates for Primo Water in a note issued to investors on Tuesday, November 5th. William Blair analyst J. Andersen anticipates that the company will post earnings per share of $0.26 for the quarter. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Primo Water’s current full-year earnings is $0.88 per share. William Blair also issued estimates for Primo Water’s Q4 2024 earnings at $0.18 EPS.

A number of other equities analysts have also commented on PRMW. Raymond James lowered 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 set a $30.00 price target on shares of Primo Water in a report on Tuesday, October 1st. Finally, StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Price Performance

Shares of NYSE:PRMW opened at $24.22 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The stock has a market capitalization of $3.88 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.93 and a beta of 1.10. The business has a 50-day moving average of $25.27 and a two-hundred day moving average of $22.77. Primo Water has a fifty-two week low of $14.06 and a fifty-two week high of $28.06.

Primo Water (NYSE:PRMW) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $477.40 million. During the same period in the previous year, the company posted $0.22 EPS. Primo Water’s revenue was up 7.7% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PRMW. Blue Trust Inc. lifted its stake in Primo Water by 52.1% in the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock valued at $47,000 after buying an additional 641 shares during the period. CWM LLC boosted its stake in Primo Water by 31.5% during the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock worth $84,000 after acquiring an additional 792 shares during the last quarter. Natixis Advisors LLC grew its holdings in Primo Water by 3.6% during the third quarter. Natixis Advisors LLC now owns 24,401 shares of the company’s stock valued at $616,000 after purchasing an additional 852 shares during the period. GAMMA Investing LLC increased its stake in Primo Water by 375.9% in the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after purchasing an additional 981 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Primo Water by 3.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,744 shares of the company’s stock worth $781,000 after purchasing an additional 1,307 shares during the period. Institutional investors own 87.71% of the company’s stock.

Primo Water Dividend Announcement

The company also recently declared a — dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.82 per share. This represents a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 5th. Primo Water’s dividend payout ratio (DPR) is presently 22.78%.

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.