Primo Water (PRMW) to Release Earnings on Thursday

Primo Water (NYSE:PRMW) will issue its quarterly earnings data before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of $0.13 per share for the quarter. Primo Water has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Primo Water (NYSE:PRMW) last issued its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.10). Primo Water had a return on equity of 8.55% and a net margin of 10.82%. The business had revenue of $438.70 million for the quarter, compared to the consensus estimate of $582.93 million. On average, analysts expect Primo Water to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Primo Water Stock Performance

NYSE:PRMW opened at $19.89 on Tuesday. The firm has a 50-day simple moving average of $17.78 and a 200-day simple moving average of $15.75. Primo Water has a one year low of $12.27 and a one year high of $20.17. The firm has a market cap of $3.20 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.87 and a beta of 1.09. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.92 and a current ratio of 2.03.

Primo Water Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.09 dividend. This is an increase from Primo Water’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.36 dividend on an annualized basis and a yield of 1.81%. Primo Water’s payout ratio is 24.16%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PRMW. JPMorgan Chase & Co. lifted their price target on Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Raymond James downgraded Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective on the stock. in a research report on Wednesday, April 3rd. StockNews.com downgraded Primo Water from a “buy” rating to a “hold” rating in a research report on Friday. Finally, TD Securities dropped their price objective on Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

About Primo Water

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.