Back to top
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Edison International (EIX) - $25 value - yours FREE >>
Atmos Energy Corporation (ATO) - $25 value - yours FREE >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Edison International (EIX) - $25 value - yours FREE >>
Atmos Energy Corporation (ATO) - $25 value - yours FREE >>
Image: Shutterstock
Reasons to Add Primo Water (PRMW) to Your Portfolio Now
Primo Water Corporation’s (PRMW - Free Report) steady customer addition and organic growth are boosting its performance.
Let’s focus on the factors that make the provider of sustainable drinking water solutions, with a Zacks Rank #2 (Buy), a strong investment pick at the moment. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Growth Projections
The Zacks Consensus Estimate for 2022 earnings per share and revenues is pegged at 68 cents and $2.23 billion, suggesting increases of 21.4% and 7.6%, respectively, from the year-ago reported figures.
The consensus mark for 2023 earnings and revenues is pegged at 83 cents per share and $2.34 billion, respectively. The bottom and top-line estimates suggest 21.7% and 4.9% year-over-year increases, respectively.
Surprise History & Dividend Yield
Primo Water’s trailing four-quarter earnings surprise is 7.9%, on average.
The company’s dividend yield is currently pegged at 1.81%, which is better than the Zacks S&P 500 composite’s yield of 1.67%.
Regular Investments
Primo Water consistently invests in upgrading and maintaining its existing infrastructure to provide reliable services 24x7 to its expanding customer base. In 2022, Primo Water invested nearly $200 million to strengthen its operation. It sets aside $40-$60 million per year to make acquisitions and expand its footprint. The company is expected to continue to make investments in 2023 to expand its operations.
Price Performance
Over the past six months, the stock has gained 16.5% compared with the industry’s growth of 7.9%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the same industry are ALLETE (ALE - Free Report) , Edison International (EIX - Free Report) and Atmos Energy (ATO - Free Report) , each currently carrying a Zacks Rank #2.
The long-term (three-to five-year) earnings growth of ALLETE, Edison International and Atmos Energy is projected at 9.3%, 2.6% and 7.5%, respectively.
The Zacks Consensus Estimate for 2022 earnings for ALLETE and Edison International has moved up 0.3% and 0.4%, respectively, in the past 60 days. The Zacks Consensus Estimate for Atmos Energy’s fiscal 2023 earnings has moved up 0.4% in the past 60 days.