Primo Water Co. (NYSE:PRMW) Plans — Dividend of $0.82

by · The Markets Daily

Primo Water Co. (NYSE:PRMW – Get Free Report) announced a — dividend on Wednesday, October 16th, Wall Street Journal reports. Stockholders of record on Tuesday, November 5th will be given a dividend of 0.82 per share on Thursday, November 21st. This represents a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 5th.

Primo Water has a payout ratio of 37.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Primo Water to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 38.1%.

Primo Water Stock Up 1.2 %

NYSE:PRMW traded up $0.31 during mid-day trading on Wednesday, hitting $26.91. 1,001,995 shares of the company’s stock were exchanged, compared to its average volume of 1,204,007. The company has a market cap of $4.33 billion, a PE ratio of 16.81, a P/E/G ratio of 1.89 and a beta of 1.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Water has a one year low of $12.92 and a one year high of $27.30. The business has a fifty day moving average price of $23.62 and a 200 day moving average price of $21.78.

Primo Water (NYSE:PRMW – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The firm had revenue of $485.00 million for the quarter, compared to analysts’ expectations of $477.40 million. During the same period in the previous year, the firm posted $0.22 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts predict that Primo Water will post 0.88 EPS for the current year.

Wall Street Analyst Weigh In

PRMW has been the topic of a number of analyst reports. CIBC upped their price target on shares of Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a research note on Tuesday, June 18th. TD Securities increased their price target on shares of Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price objective on shares of Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a report on Tuesday, October 1st. Finally, Raymond James downgraded Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Primo Water has a consensus rating of “Moderate Buy” and an average price target of $25.83.

View Our Latest Analysis on PRMW

Primo Water Company Profile

(Get Free Report)

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.

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