Primo Water Co. (PRMW) Expected to Post Q1 2019 Earnings of $0.08 Per Share
Primo Water Co. (NASDAQ:PRMW) – Stock analysts at B. Riley issued their Q1 2019 earnings per share estimates for Primo Water in a research note issued on Wednesday, November 7th. B. Riley analyst K. Anderson expects that the company will post earnings of $0.08 per share for the quarter. B. Riley currently has a “Buy” rating and a $19.00 target price on the stock. B. Riley also issued estimates for Primo Water’s Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.24 EPS and Q4 2019 earnings at $0.14 EPS.
PRMW has been the topic of a number of other reports. Zacks Investment Research lowered Primo Water from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Barrington Research reaffirmed a “buy” rating and issued a $21.00 price target on shares of Primo Water in a research note on Wednesday, October 17th. ValuEngine lowered Primo Water from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub raised Primo Water from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, BMO Capital Markets lowered their price target on Primo Water from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.50.
Primo Water (NASDAQ:PRMW) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Primo Water had a positive return on equity of 10.19% and a negative net margin of 17.88%. The company had revenue of $81.80 million for the quarter, compared to analyst estimates of $83.26 million. During the same period last year, the company earned $0.15 earnings per share. Primo Water’s quarterly revenue was down .5% compared to the same quarter last year.
In other news, Director Charles A. Norris sold 25,000 shares of Primo Water stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $20.41, for a total value of $510,250.00. Following the sale, the director now directly owns 167,556 shares of the company’s stock, valued at $3,419,817.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Cauthen sold 1,377 shares of Primo Water stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $19.56, for a total value of $26,934.12. Following the completion of the sale, the vice president now directly owns 6,159 shares in the company, valued at $120,470.04. The disclosure for this sale can be found here. Insiders sold 243,509 shares of company stock worth $4,895,288 over the last ninety days. Corporate insiders own 13.50% of the company’s stock.
Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Primo Water by 43.0% during the second quarter. Bank of New York Mellon Corp now owns 156,647 shares of the company’s stock worth $2,740,000 after buying an additional 47,114 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Primo Water by 166.3% during the second quarter. Renaissance Technologies LLC now owns 690,355 shares of the company’s stock worth $12,074,000 after buying an additional 431,100 shares during the last quarter. Cadence Capital Management LLC boosted its stake in Primo Water by 19.9% during the third quarter. Cadence Capital Management LLC now owns 171,489 shares of the company’s stock worth $3,095,000 after buying an additional 28,497 shares during the last quarter. Manatuck Hill Partners LLC boosted its stake in Primo Water by 7.1% during the second quarter. Manatuck Hill Partners LLC now owns 1,292,000 shares of the company’s stock worth $22,597,000 after buying an additional 86,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Primo Water by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,045,086 shares of the company’s stock worth $18,279,000 after buying an additional 251,899 shares during the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.
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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