Primo Brands Co. (NYSE:PRMB) Plans Quarterly Dividend of $0.10

Primo Brands Co. (NYSE:PRMB) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Friday, March 7th will be paid a dividend of 0.10 per share on Monday, March 24th. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Friday, March 7th. This is an increase from Primo Brands’s previous quarterly dividend of $0.09.

Primo Brands Trading Up 4.3 %

Shares of PRMB traded up $1.41 during midday trading on Friday, reaching $34.00. The stock had a trading volume of 3,780,734 shares, compared to its average volume of 1,935,184. The business has a 50-day moving average price of $32.04. Primo Brands has a 12-month low of $14.10 and a 12-month high of $34.53. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $12.89 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 0.79 and a beta of 1.10.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.08). Primo Brands had a return on equity of 8.80% and a net margin of 13.63%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Research analysts forecast that Primo Brands will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Primo Brands from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Friday. TD Securities increased their target price on Primo Brands from $40.00 to $48.00 and gave the company a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft began coverage on Primo Brands in a report on Monday, November 18th. They set a “buy” rating and a $33.00 target price for the company. Royal Bank of Canada upped their price target on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Finally, BMO Capital Markets initiated coverage on Primo Brands in a research report on Monday, January 6th. They issued an “outperform” rating and a $40.00 target price for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Primo Brands currently has a consensus rating of “Buy” and a consensus price target of $40.00.

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.