Media coverage about Primoris Services (NASDAQ:PRIM) has trended positive this week, according to Accern Sentiment Analysis. The research group rates the sentiment of media coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Primoris Services earned a coverage optimism score of 0.29 on Accern’s scale. Accern also assigned media coverage about the construction company an impact score of 47.0580874346719 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the headlines that may have effected Accern’s analysis:
- RPT-Wall St Week Ahead-Investors green-light infrastructure trade, but expect road bumps (cnbc.com)
- $556.75 Million in Sales Expected for Primoris Services Corporation (PRIM) This Quarter (americanbankingnews.com)
- Primoris Services Corporation (PRIM) Expected to Post Earnings of $0.24 Per Share (americanbankingnews.com)
- Primoris Services Corporation Announces Heavy Civil Award Valued at $25 Million (finance.yahoo.com)
Several research firms have issued reports on PRIM. BidaskClub lowered Primoris Services from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Zacks Investment Research lowered Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 28th. Canaccord Genuity restated a “buy” rating and issued a $30.00 target price on shares of Primoris Services in a research note on Tuesday, November 7th. Seaport Global Securities restated a “buy” rating and issued a $32.00 target price (up from $29.00) on shares of Primoris Services in a research note on Wednesday, October 11th. Finally, KeyCorp restated a “hold” rating on shares of Primoris Services in a research note on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Primoris Services presently has a consensus rating of “Hold” and an average price target of $31.67.
Shares of Primoris Services (NASDAQ:PRIM) traded up $0.23 on Friday, reaching $27.06. The company’s stock had a trading volume of 90,768 shares, compared to its average volume of 206,421. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.49. Primoris Services has a 12-month low of $21.83 and a 12-month high of $30.00. The company has a market capitalization of $1,390.00, a PE ratio of 21.82, a P/E/G ratio of 1.97 and a beta of 1.59.
Primoris Services (NASDAQ:PRIM) last issued its earnings results on Monday, November 6th. The construction company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.09. Primoris Services had a return on equity of 11.70% and a net margin of 2.68%. The firm had revenue of $608.31 million for the quarter, compared to analysts’ expectations of $588.19 million. During the same quarter last year, the business earned $0.09 earnings per share. The company’s revenue was up 19.8% compared to the same quarter last year. equities analysts expect that Primoris Services will post 1.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, December 28th. This is a boost from Primoris Services’s previous quarterly dividend of $0.06. Primoris Services’s payout ratio is 19.35%.
In other news, Director Stephen C. Cook sold 3,980 shares of Primoris Services stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $27.82, for a total transaction of $110,723.60. Following the transaction, the director now owns 10,502 shares in the company, valued at approximately $292,165.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Lee King sold 9,077 shares of Primoris Services stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $27.43, for a total value of $248,982.11. Following the transaction, the chief executive officer now owns 6,242 shares in the company, valued at approximately $171,218.06. The disclosure for this sale can be found here. Insiders have sold a total of 92,513 shares of company stock worth $2,606,860 in the last quarter. 24.00% of the stock is currently owned by company insiders.
About Primoris Services
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.
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