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

Primo Water Co. (NYSE:PRMW) declared a — dividend on Tuesday, October 15th, Wall Street Journal reports. Shareholders of record on Tuesday, November 5th will be given a dividend of 0.82 per share on Thursday, November 21st. This represents a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 5th.

Primo Water has a dividend payout ratio of 37.2% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE PRMW opened at $26.53 on Friday. 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 company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.97 and a beta of 1.10. Primo Water has a twelve month low of $13.57 and a twelve month high of $28.06. The business has a 50 day simple moving average of $25.01 and a 200-day simple moving average of $22.60.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PRMW shares. StockNews.com lowered shares of Primo Water from a “buy” rating to a “hold” rating in a research note on Sunday, October 13th. Raymond James cut Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. William Blair began coverage on Primo Water in a research report on Thursday, October 24th. They set an “outperform” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a research report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.