Primo Water Co. (PRMW) To Go Ex-Dividend on June 7th

Primo Water Co. (NYSE:PRMWGet Free Report) announced a quarterly dividend on Thursday, May 9th, Zacks reports. Stockholders of record on Friday, June 7th will be paid a dividend of 0.09 per share on Tuesday, June 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, June 7th.

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 $1.04 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 30.8%.

Primo Water Trading Up 0.5 %

Shares of PRMW opened at $22.78 on Wednesday. Primo Water has a 1 year low of $12.27 and a 1 year high of $23.11. The company has a 50 day simple moving average of $19.82 and a two-hundred day simple moving average of $16.94. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02. The firm has a market cap of $3.64 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09.

Primo Water (NYSE:PRMWGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.13 by $0.05. The business had revenue of $452.00 million during the quarter, compared to the consensus estimate of $438.81 million. Primo Water had a net margin of 12.22% and a return on equity of 9.36%. On average, equities analysts expect that Primo Water will post 0.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

PRMW has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Primo Water from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Royal Bank of Canada increased their price target on shares of Primo Water from $19.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, May 20th. upgraded Primo Water from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Raymond James cut Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price for the company. in a report on Wednesday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Check Out Our Latest Stock Analysis on Primo Water

About Primo Water

(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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Dividend History for Primo Water (NYSE:PRMW)

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