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

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 paid a dividend of 0.82 per share on Thursday, November 21st. This represents a yield of 1.3%. The ex-dividend date is Tuesday, November 5th.

Primo Water has a payout ratio of 37.2% indicating that 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 Trading Up 1.2 %

NYSE PRMW traded up $0.33 on Wednesday, hitting $26.93. The company’s stock had a trading volume of 1,009,201 shares, compared to its average volume of 1,204,043. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Water has a 1-year low of $12.92 and a 1-year high of $27.30. The company’s 50-day moving average is $23.62 and its 200 day moving average is $21.78. The firm has a market cap of $4.33 billion, a PE ratio of 16.81, a PEG ratio of 1.89 and a beta of 1.11.

Primo Water (NYSE:PRMW) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, topping 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 company had revenue of $485.00 million during the quarter, compared to analysts’ expectations of $477.40 million. During the same period in the prior year, the company posted $0.22 earnings per share. Primo Water’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts predict that Primo Water will post 0.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. StockNews.com lowered shares of Primo Water from a “buy” rating to a “hold” rating in a research note on Sunday. TD Securities increased their target price on shares of Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price on shares of Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Finally, CIBC increased their target price on shares of Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a research note on Tuesday, June 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.