Q3 Earnings Estimate for Primo Water Issued By William Blair

Primo Water Co. (NYSE:PRMW) – Stock analysts at William Blair issued their Q3 2024 earnings per share estimates for shares of Primo Water in a research report issued to clients and investors on Tuesday, November 5th. William Blair analyst J. Andersen forecasts 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.

Primo Water (NYSE:PRMW) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $485.00 million during the quarter, compared to analysts’ expectations of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS.

Several other brokerages have also recently issued reports on PRMW. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research note 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, Raymond James cut Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Three equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Stock Performance

Shares of PRMW opened at $24.46 on Friday. The stock has a 50-day simple moving average of $25.23 and a 200-day simple moving average of $22.76. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The stock has a market capitalization of $3.92 billion, a PE ratio of 15.58, a PEG ratio of 1.93 and a beta of 1.10. Primo Water has a 1 year low of $14.06 and a 1 year high of $28.06.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tocqueville Asset Management L.P. increased its holdings in shares of Primo Water by 108.7% in the first quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock valued at $1,748,000 after purchasing an additional 50,000 shares during the period. Jane Street Group LLC increased its holdings in shares of Primo Water by 170.4% in the first quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock valued at $11,287,000 after purchasing an additional 390,611 shares during the period. Strategic Wealth Partners Ltd. acquired a new position in shares of Primo Water in the first quarter valued at approximately $879,000. Intact Investment Management Inc. increased its holdings in shares of Primo Water by 43.6% in the third quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock valued at $34,849,000 after purchasing an additional 419,370 shares during the period. Finally, Tidal Investments LLC increased its holdings in shares of Primo Water by 471.2% in the first quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock valued at $1,205,000 after purchasing an additional 54,569 shares during the period. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Water Announces Dividend

The business also recently announced a — dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $0.82 dividend. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 5th. Primo Water’s payout ratio is currently 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.