Trade Report: The Q3 2017 Earnings Forecast for Primo Water Corp. Issued By Barrington Research (PRMW)

The Q3 2017 Earnings Forecast for Primo Water Corp. Issued By Barrington Research (PRMW)

Primo Water Corp. (NASDAQ:PRMW) – Investment analysts at Barrington Research lowered their Q3 2017 earnings per share (EPS) estimates for shares of Primo Water Corp. in a research report issued to clients and investors on Tuesday. Barrington Research analyst M. Petusky now anticipates that the firm will post earnings per share of $0.05 for the quarter, down from their previous estimate of $0.12. Barrington Research currently has a “Outperform” rating and a $15.00 price target on the stock.

Several other research firms have also recently issued reports on PRMW. B. Riley increased their target price on shares of Primo Water Corp. from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Primo Water Corp. from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, August 9th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $13.75.

Shares of Primo Water Corp. (NASDAQ:PRMW) traded down 0.15% during mid-day trading on Wednesday, hitting $13.73. 133,078 shares of the company traded hands. The stock has a market capitalization of $357.39 million, a PE ratio of 84.75 and a beta of 0.04. The firm’s 50 day moving average price is $11.97 and its 200-day moving average price is $11.46. Primo Water Corp. has a 1-year low of $7.39 and a 1-year high of $13.91.

Primo Water Corp. (NASDAQ:PRMW) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. Primo Water Corp. had a net margin of 3.53% and a return on equity of 22.31%. The company had revenue of $34.40 million for the quarter, compared to analysts’ expectations of $33.86 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Primo Water Corp.’s revenue for the quarter was up 6.2% on a year-over-year basis.

Several hedge funds have recently bought and sold shares of PRMW. BlackRock Institutional Trust Company N.A. boosted its stake in Primo Water Corp. by 12.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,259,798 shares of the company’s stock valued at $14,878,000 after buying an additional 143,940 shares during the period. Vanguard Group Inc. boosted its stake in Primo Water Corp. by 9.7% in the second quarter. Vanguard Group Inc. now owns 960,859 shares of the company’s stock valued at $11,347,000 after buying an additional 85,176 shares during the period. Wellington Management Group LLP boosted its stake in Primo Water Corp. by 2.2% in the first quarter. Wellington Management Group LLP now owns 672,450 shares of the company’s stock valued at $6,785,000 after buying an additional 14,350 shares during the period. BlackRock Fund Advisors boosted its stake in Primo Water Corp. by 1,040.8% in the second quarter. BlackRock Fund Advisors now owns 548,064 shares of the company’s stock valued at $6,473,000 after buying an additional 500,020 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Primo Water Corp. by 48.0% in the second quarter. Dimensional Fund Advisors LP now owns 360,127 shares of the company’s stock valued at $4,253,000 after buying an additional 116,770 shares during the period. Hedge funds and other institutional investors own 64.59% of the company’s stock.

About Primo Water Corp.

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