Barrington Research Analysts Reduce Earnings Estimates for Primo Water Corporation (PRMW)
Primo Water Corporation (NASDAQ:PRMW) – Equities researchers at Barrington Research dropped their FY2017 earnings estimates for Primo Water Corporation in a research note issued on Wednesday. Barrington Research analyst M. Petusky now expects that the company will post earnings per share of ($0.26) for the year, down from their prior forecast of ($0.17). Barrington Research currently has a “Outperform” rating and a $17.00 price target on the stock. Barrington Research also issued estimates for Primo Water Corporation’s Q4 2017 earnings at $0.04 EPS, Q1 2018 earnings at ($0.08) EPS, Q4 2018 earnings at $0.09 EPS and FY2019 earnings at $0.48 EPS.
A number of other research analysts also recently issued reports on PRMW. B. Riley reissued a “buy” rating and issued a $17.50 price target on shares of Primo Water Corporation in a report on Monday, May 8th. Zacks Investment Research downgraded Primo Water Corporation from a “hold” rating to a “strong sell” rating in a report on Thursday, May 11th. ValuEngine raised Primo Water Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BMO Capital Markets reissued a “market perform” rating on shares of Primo Water Corporation in a report on Friday, June 9th. Finally, BidaskClub raised Primo Water Corporation from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $17.10.
Primo Water Corporation (NASDAQ PRMW) traded up 1.89% during midday trading on Friday, reaching $12.37. 29,636 shares of the company traded hands. Primo Water Corporation has a 1-year low of $10.74 and a 1-year high of $15.39. The firm has a 50-day moving average of $12.69 and a 200-day moving average of $13.05. The stock’s market capitalization is $369.17 million.
Primo Water Corporation (NASDAQ:PRMW) last released its earnings results on Tuesday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.09. The firm had revenue of $74.80 million during the quarter, compared to analysts’ expectations of $73.20 million. Primo Water Corporation had a negative return on equity of 44.11% and a negative net margin of 11.15%. The company’s revenue was up 117.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 earnings per share.
In other news, insider Camden Partners Strategic Fund sold 7,985 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $13.50, for a total value of $107,797.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 2,750 shares of company stock valued at $30,050 over the last 90 days. Company insiders own 15.80% of the company’s stock.
Several hedge funds have recently modified their holdings of PRMW. US Bancorp DE boosted its stake in shares of Primo Water Corporation by 110.3% in the first quarter. US Bancorp DE now owns 9,884 shares of the company’s stock valued at $135,000 after buying an additional 5,184 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Primo Water Corporation by 2.9% in the first quarter. HighTower Advisors LLC now owns 10,600 shares of the company’s stock valued at $145,000 after buying an additional 300 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Primo Water Corporation during the first quarter valued at approximately $147,000. Highbridge Capital Management LLC purchased a new stake in shares of Primo Water Corporation during the fourth quarter valued at approximately $149,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Primo Water Corporation during the first quarter valued at approximately $156,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.
Primo Water Corporation Company Profile
Primo Water Corporation (Primo) provides multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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