Primo Water Co. (NYSE:PRMW) Announces $0.09 Quarterly Dividend

Primo Water Co. (NYSE:PRMW) 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 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, June 7th.

Primo Water has a dividend payout ratio of 37.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Primo Water to earn $1.01 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 31.7%.

Primo Water Price Performance

Shares of Primo Water stock traded up $0.36 during trading on Friday, hitting $21.35. The stock had a trading volume of 1,383,519 shares, compared to its average volume of 1,092,483. Primo Water has a fifty-two week low of $12.27 and a fifty-two week high of $23.11. The firm has a market cap of $3.43 billion, a P/E ratio of 14.33, a PEG ratio of 1.87 and a beta of 1.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92. The business has a fifty day moving average of $18.10 and a two-hundred day moving average of $15.91.

Primo Water (NYSE:PRMW) last announced its earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.10). Primo Water had a net margin of 10.82% and a return on equity of 8.55%. The company had revenue of $438.70 million for the quarter, compared to analysts’ expectations of $582.93 million. On average, sell-side analysts expect that Primo Water will post 0.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PRMW. TD Securities dropped their price target on Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Raymond James lowered Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price target on Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft upped their price target on Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Friday. Finally, StockNews.com lowered Primo Water from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Primo Water presently has an average rating of “Moderate Buy” and an average price target of $21.00.

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.