Zacks: Analysts Anticipate Primo Water Co. (NASDAQ:PRMW) to Announce $0.09 EPS

Brokerages predict that Primo Water Co. (NASDAQ:PRMW) will report $0.09 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Primo Water’s earnings. Primo Water reported earnings per share of $0.12 during the same quarter last year, which would indicate a negative year over year growth rate of 25%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, August 5th.

On average, analysts expect that Primo Water will report full year earnings of $0.49 per share for the current year, with EPS estimates ranging from $0.42 to $0.56. For the next fiscal year, analysts anticipate that the company will post earnings of $0.71 per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Primo Water.

Primo Water (NASDAQ:PRMW) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Primo Water had a positive return on equity of 11.15% and a negative net margin of 19.21%. The business had revenue of $70.05 million during the quarter, compared to analysts’ expectations of $70.00 million.

PRMW has been the topic of several analyst reports. Barrington Research set a $18.00 price target on shares of Primo Water and gave the company a “buy” rating in a report on Wednesday, June 26th. Zacks Investment Research raised shares of HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a report on Friday, May 17th. BidaskClub downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Imperial Capital reaffirmed an “outperform” rating and set a $18.00 price target (down previously from $20.00) on shares of Primo Water in a report on Tuesday, June 18th. Finally, ValuEngine downgraded shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $19.33.

Several hedge funds have recently added to or reduced their stakes in the company. Akre Capital Management LLC lifted its holdings in shares of Primo Water by 0.5% in the first quarter. Akre Capital Management LLC now owns 2,858,679 shares of the company’s stock worth $44,195,000 after buying an additional 13,459 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Primo Water by 10.5% in the fourth quarter. BlackRock Inc. now owns 2,444,917 shares of the company’s stock worth $34,253,000 after buying an additional 233,001 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Primo Water by 52.7% in the fourth quarter. Nuveen Asset Management LLC now owns 2,001,988 shares of the company’s stock worth $28,048,000 after buying an additional 690,521 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Primo Water by 11.8% in the first quarter. JPMorgan Chase & Co. now owns 1,750,583 shares of the company’s stock worth $27,064,000 after buying an additional 184,417 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Primo Water by 24.9% in the first quarter. William Blair Investment Management LLC now owns 1,527,266 shares of the company’s stock worth $23,612,000 after buying an additional 304,083 shares in the last quarter. 84.96% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:PRMW traded down $0.16 during trading hours on Friday, hitting $13.67. 6,121 shares of the stock traded hands, compared to its average volume of 266,109. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 2.10. Primo Water has a 1 year low of $10.70 and a 1 year high of $20.72. The stock has a market capitalization of $537.33 million, a P/E ratio of 40.21, a price-to-earnings-growth ratio of 3.19 and a beta of 0.71. The firm has a 50 day moving average of $12.51.

About Primo Water

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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Earnings History and Estimates for Primo Water (NASDAQ:PRMW)

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