Equities analysts predict that Primoris Services Corp (NASDAQ:PRIM) will announce $0.01 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Primoris Services’ earnings, with estimates ranging from ($0.03) to $0.04. Primoris Services also posted earnings of $0.01 per share in the same quarter last year. The company is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, May 14th.
On average, analysts expect that Primoris Services will report full year earnings of $1.67 per share for the current year, with EPS estimates ranging from $1.63 to $1.70. For the next financial year, analysts anticipate that the business will post earnings of $2.34 per share, with EPS estimates ranging from $2.25 to $2.43. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Primoris Services.
Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Thursday, February 28th. The construction company reported $0.63 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. The firm had revenue of $877.67 million for the quarter, compared to analyst estimates of $838.70 million. Primoris Services had a net margin of 2.64% and a return on equity of 13.91%. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS.
PRIM has been the topic of several analyst reports. Zacks Investment Research raised shares of Primoris Services from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, December 19th. BidaskClub cut shares of Primoris Services from a “hold” rating to a “sell” rating in a research note on Tuesday, January 1st. TheStreet cut shares of Primoris Services from a “b-” rating to a “c+” rating in a research note on Wednesday, December 26th. Finally, ValuEngine upgraded shares of Primoris Services from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $29.33.
Shares of PRIM stock traded down $0.22 during trading on Monday, hitting $21.52. 56,067 shares of the stock traded hands, compared to its average volume of 145,832. The firm has a market cap of $1.10 billion, a PE ratio of 12.66, a PEG ratio of 1.30 and a beta of 1.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.49 and a current ratio of 1.49. Primoris Services has a 52-week low of $17.82 and a 52-week high of $28.90.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, March 28th. Primoris Services’s dividend payout ratio is 14.12%.
In other news, Director Brian Pratt sold 110,182 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $23.32, for a total value of $2,569,444.24. Following the completion of the transaction, the director now owns 2,162,824 shares in the company, valued at approximately $50,437,055.68. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders sold 599,274 shares of company stock valued at $13,254,452. Corporate insiders own 19.50% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of PRIM. Divisar Capital Management LLC grew its holdings in shares of Primoris Services by 25.6% during the fourth quarter. Divisar Capital Management LLC now owns 270,145 shares of the construction company’s stock worth $5,168,000 after purchasing an additional 55,000 shares during the last quarter. BlackRock Inc. raised its position in Primoris Services by 4.3% in the third quarter. BlackRock Inc. now owns 2,762,336 shares of the construction company’s stock valued at $68,561,000 after purchasing an additional 113,251 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Primoris Services by 18.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,628 shares of the construction company’s stock valued at $318,000 after purchasing an additional 2,626 shares during the period. Victory Capital Management Inc. raised its position in Primoris Services by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 22,782 shares of the construction company’s stock valued at $436,000 after purchasing an additional 887 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Primoris Services by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,394,104 shares of the construction company’s stock valued at $59,422,000 after purchasing an additional 35,145 shares during the period. 78.23% of the stock is currently owned by institutional investors and hedge funds.
Primoris Services Company Profile
Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through five segments: Power, Industrial, and Engineering; Pipeline and Underground; Utilities and Distribution; Transmission and Distribution; and Civil.
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