Equities analysts predict that Primo Water Co. (NASDAQ:PRMW) will post sales of $83.00 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Primo Water’s earnings, with the highest sales estimate coming in at $83.51 million and the lowest estimate coming in at $82.50 million. Primo Water reported sales of $82.21 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1%. The company is expected to report its next earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Primo Water will report full-year sales of $307.10 million for the current year, with estimates ranging from $305.00 million to $308.20 million. For the next fiscal year, analysts forecast that the company will post sales of $324.39 million, with estimates ranging from $321.00 million to $326.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Primo Water.

Primo Water (NASDAQ:PRMW) last posted its quarterly earnings results on Tuesday, August 7th. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.04. The business had revenue of $75.80 million during the quarter, compared to the consensus estimate of $72.96 million. Primo Water had a return on equity of 8.21% and a net margin of 3.21%.

PRMW has been the subject of a number of research reports. BidaskClub downgraded Primo Water from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Zacks Investment Research upgraded Primo Water from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Saturday, August 11th. Barrington Research lifted their target price on Primo Water from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, August 8th. Finally, BMO Capital Markets lifted their target price on Primo Water from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $20.75.

In other news, 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 transaction of $26,934.12. Following the sale, the vice president now owns 6,159 shares of the company’s stock, valued at $120,470.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles A. Norris sold 148,678 shares of Primo Water stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $20.18, for a total value of $3,000,322.04. Following the sale, the director now directly owns 4,282 shares in the company, valued at approximately $86,410.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 243,509 shares of company stock worth $4,895,288. Corporate insiders own 13.50% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Manatuck Hill Partners LLC raised its holdings 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 purchasing an additional 86,000 shares in the last quarter. Legion Partners Asset Management LLC raised its holdings in Primo Water by 34.9% during the first quarter. Legion Partners Asset Management LLC now owns 812,774 shares of the company’s stock worth $9,518,000 after purchasing an additional 210,087 shares in the last quarter. Cadence Capital Management LLC bought a new stake in Primo Water during the second quarter worth approximately $2,501,000. Renaissance Technologies LLC raised its holdings 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 purchasing an additional 431,100 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings in Primo Water by 1,175.1% during the second quarter. Citadel Advisors LLC now owns 256,428 shares of the company’s stock worth $4,486,000 after purchasing an additional 236,317 shares in the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:PRMW traded up $0.24 during mid-day trading on Wednesday, reaching $15.84. The stock had a trading volume of 275,718 shares, compared to its average volume of 284,979. The company has a market capitalization of $680.40 million, a price-to-earnings ratio of -56.57, a price-to-earnings-growth ratio of 3.96 and a beta of 0.49. Primo Water has a 1-year low of $10.47 and a 1-year high of $20.72. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 1.06.

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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Earnings History and Estimates for Primo Water (NASDAQ:PRMW)

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