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

Primo Water Co. (NYSE:PRMW) announced a — dividend on Tuesday, October 15th, Wall Street Journal reports. Investors of record on Tuesday, November 5th will be paid 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 dividend payout ratio of 37.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

NYSE PRMW traded up $0.33 during trading on Wednesday, reaching $26.93. The company’s stock had a trading volume of 1,009,201 shares, compared to its average volume of 1,204,043. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11. Primo Water has a 12 month low of $12.92 and a 12 month high of $27.30. The firm has a 50 day moving average price of $23.62 and a 200 day moving average price of $21.78.

Primo Water (NYSE:PRMW) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $485.00 million during the quarter, compared to the consensus estimate of $477.40 million. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 EPS. As a group, equities analysts anticipate that Primo Water will post 0.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PRMW. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. 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 report on Tuesday, June 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price target on shares of Primo Water in a report on Tuesday, October 1st. JPMorgan Chase & Co. upped their price target 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. Finally, StockNews.com downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a report on Sunday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Primo Water currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

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.