Primo Brands (PRMB) to Release Quarterly Earnings on Thursday

Key Points

• Primo Brands (NYSE:PRMB) is set to announce its quarterly earnings on August 7th, with analysts projecting earnings of $0.43 per share and revenues of $1.83 billion.
• In its last quarterly earnings report on May 8th, Primo Brands reported $0.29 EPS, exceeding expectations, but revenue of $1.61 billion fell short of projections.
• Wall Street analysts have a consensus "Buy" rating for Primo Brands, with target prices ranging from $38.00 to $48.00 per share, indicating optimistic growth prospects.

Primo Brands (NYSE:PRMB - Get Free Report) will likely be announcing its earnings results before the market opens on Thursday, August 7th. Analysts expect the company to announce earnings of $0.43 per share and revenue of $1.83 billion for the quarter. Primo Brands has set its FY 2025 guidance at EPS.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.05. The company had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.63 billion. Primo Brands had a positive return on equity of 8.35% and a negative net margin of 1.86%. Primo Brands's revenue was up 42.1% on a year-over-year basis.

Primo Brands Price Performance

Shares of Primo Brands stock traded down $0.56 during mid-day trading on Friday, reaching $27.05. 5,842,946 shares of the stock were exchanged, compared to its average volume of 4,651,352. Primo Brands has a fifty-two week low of $20.16 and a fifty-two week high of $35.85. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 0.52 and a beta of 0.73. The firm has a 50-day simple moving average of $29.81 and a 200 day simple moving average of $31.84. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 1.49.

Insider Buying and Selling at Primo Brands

In other Primo Brands news, Director Tony W. Lee sold 50,657,562 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $31.67, for a total value of $1,604,324,988.54. Following the transaction, the director directly owned 116,210,806 shares of the company's stock, valued at approximately $3,680,396,226.02. This trade represents a 30.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 58.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Primo Brands stock. Dynamic Technology Lab Private Ltd bought a new stake in Primo Brands Corporation (NYSE:PRMB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,447 shares of the company's stock, valued at approximately $229,000. 87.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley initiated coverage on shares of Primo Brands in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $38.00 target price for the company. Bank of America cut their price objective on Primo Brands from $42.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, July 11th. TD Securities initiated coverage on Primo Brands in a report on Tuesday, April 8th. They set a "buy" rating and a $48.00 target price on the stock. Truist Financial assumed coverage on Primo Brands in a report on Friday, April 4th. They issued a "buy" rating and a $42.00 price target for the company. Finally, Barclays decreased their price objective on shares of Primo Brands from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $40.70.

Primo Brands Company Profile

Primo Brands Corp. is a branded beverage company, which focuses on healthy hydration. It delivers sustainably and domestically sourced diversified offerings across products, formats, channels, price points and consumer occasions, distributed in the United States and Canada. The company provides water filtration units for home and business consumers across North America.