Primo Water (PRMW) to Release Earnings on Thursday

Primo Water (NYSE:PRMW) will release its earnings data before the market opens on Thursday, May 9th. Analysts expect Primo Water to post 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 interested in listening to the company’s earnings conference call can do so using this link.

Primo Water (NYSE:PRMW) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). Primo Water had a net margin of 10.82% and a return on equity of 8.55%. The company had revenue of $438.70 million during the quarter, compared to analyst estimates 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 Price Performance

PRMW stock opened at $20.14 on Wednesday. The company’s 50-day moving average price is $17.85 and its two-hundred day moving average price is $15.80. Primo Water has a 12 month low of $12.27 and a 12 month high of $20.36. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88. The firm has a market cap of $3.24 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.87 and a beta of 1.09.

Primo Water Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a dividend of $0.09 per share. This is an increase from Primo Water’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Thursday, March 7th. Primo Water’s payout ratio is currently 24.16%.

Wall Street Analysts Forecast Growth

PRMW has been the topic of several recent analyst reports. StockNews.com lowered Primo Water from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. increased their target price on shares of Primo Water from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Raymond James cut shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective for the company. in a research report on Wednesday, April 3rd. Finally, TD Securities decreased their target price on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.