Primo Water Co. (PRMW) to Issue — Dividend of $0.82 on November 21st

Primo Water Co. (NYSE:PRMW) announced a — dividend on Tuesday, October 15th, Wall Street Journal reports. Stockholders of record on Tuesday, November 5th will be given a dividend of 0.82 per share on Thursday, November 21st. This represents a dividend 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% indicating that its dividend is sufficiently covered by earnings. Research 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

NYSE PRMW opened at $26.93 on Thursday. The company has a market cap of $4.33 billion, a PE ratio of 16.73, a P/E/G ratio of 1.89 and a beta of 1.11. The firm’s 50 day moving average price is $23.72 and its 200-day moving average price is $21.82. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Water has a 52-week low of $12.92 and a 52-week high of $27.30.

Primo Water (NYSE:PRMW) last announced its earnings results on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $485.00 million for the quarter, compared to analysts’ expectations of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS. Sell-side analysts forecast that Primo Water will post 0.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a report on Tuesday, October 1st. StockNews.com cut shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Company Profile

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.