Primo Brands (PRMB) to Release Quarterly Earnings on Thursday

Primo Brands (NYSE:PRMB) is anticipated to release its results before the market opens on Thursday, February 26th. Analysts expect Primo Brands to post earnings of $0.22 per share and revenue of $1.5150 billion for the quarter.

Primo Brands Price Performance

PRMB stock opened at $18.59 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.02 and a quick ratio of 0.86. Primo Brands has a 1 year low of $14.36 and a 1 year high of $35.85. The company’s 50-day moving average is $17.85 and its 200-day moving average is $20.11. The stock has a market capitalization of $6.88 billion, a PE ratio of -59.95, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63.

Primo Brands declared that its board has authorized a stock buyback program on Monday, November 10th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on PRMB shares. JPMorgan Chase & Co. decreased their price objective on Primo Brands from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, December 18th. The Goldman Sachs Group reduced their price objective on Primo Brands from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, November 25th. BMO Capital Markets reissued an “outperform” rating and issued a $35.00 price target on shares of Primo Brands in a research report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Primo Brands in a research note on Monday, December 29th. Finally, TD Securities lowered their target price on shares of Primo Brands from $35.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Primo Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.83.

Institutional Investors Weigh In On Primo Brands

Several institutional investors have recently bought and sold shares of PRMB. Caption Management LLC purchased a new stake in Primo Brands in the third quarter valued at $27,000. EverSource Wealth Advisors LLC increased its stake in shares of Primo Brands by 102.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock worth $62,000 after purchasing an additional 1,058 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings in Primo Brands by 65.2% in the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after purchasing an additional 850 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Primo Brands by 21,481.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company’s stock worth $39,000 after purchasing an additional 2,363 shares in the last quarter. Finally, Quarry LP grew its holdings in Primo Brands by 516.6% in the 4th quarter. Quarry LP now owns 2,380 shares of the company’s stock valued at $39,000 after buying an additional 1,994 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Brands Company Profile

Primo Brands (NYSE: PRMB) is a consumer packaged beverage company that was established as an independent entity following a corporate spin‐off in 2023. The company specializes in the production, marketing and distribution of a broad portfolio of bottled water products, including purified, mineral and sparkling varieties. Through its focus on quality control and innovation, Primo Brands aims to deliver clean, great-tasting water in formats tailored to both at-home consumption and on-the-go lifestyles.

Its product range spans multi-serve and single-serve bottles, aluminum cans and other eco-friendly packaging solutions.