Brokerages expect Primoris Services Corp (NASDAQ:PRIM) to announce earnings per share of $0.67 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Primoris Services’ earnings, with the highest EPS estimate coming in at $0.71 and the lowest estimate coming in at $0.63. Primoris Services reported earnings per share of $0.32 in the same quarter last year, which suggests a positive year-over-year growth rate of 109.4%. The business is scheduled to announce its next earnings report on Monday, November 5th.
On average, analysts expect that Primoris Services will report full year earnings of $1.55 per share for the current year. For the next year, analysts expect that the business will post earnings of $2.10 per share, with EPS estimates ranging from $2.04 to $2.15. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Primoris Services.
Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings results on Tuesday, August 7th. The construction company reported $0.31 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.31. Primoris Services had a return on equity of 8.23% and a net margin of 2.37%. The business had revenue of $648.79 million during the quarter, compared to analyst estimates of $593.65 million.
Several research analysts have commented on PRIM shares. BidaskClub raised shares of Primoris Services from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 12th. ValuEngine downgraded shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. Zacks Investment Research downgraded shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Canaccord Genuity increased their price objective on shares of Primoris Services from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, May 9th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $31.00.
In related news, Director Brian Pratt sold 286,938 shares of the stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $25.17, for a total value of $7,222,229.46. Following the completion of the transaction, the director now owns 7,838,661 shares of the company’s stock, valued at approximately $197,299,097.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John M. Perisich sold 9,055 shares of the stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $25.14, for a total transaction of $227,642.70. The disclosure for this sale can be found here. Insiders have sold a total of 612,164 shares of company stock valued at $16,179,409 in the last three months. Insiders own 19.50% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Primoris Services by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,358,959 shares of the construction company’s stock valued at $64,235,000 after acquiring an additional 66,141 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Primoris Services by 8.7% in the 2nd quarter. BlackRock Inc. now owns 2,649,085 shares of the construction company’s stock valued at $72,135,000 after acquiring an additional 212,126 shares during the last quarter. Martingale Asset Management L P lifted its holdings in shares of Primoris Services by 4.1% in the 2nd quarter. Martingale Asset Management L P now owns 122,733 shares of the construction company’s stock valued at $3,343,000 after acquiring an additional 4,783 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of Primoris Services by 0.7% in the 2nd quarter. Van Berkom & Associates Inc. now owns 2,733,782 shares of the construction company’s stock valued at $74,441,000 after acquiring an additional 19,802 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Primoris Services in the 2nd quarter valued at about $13,951,000. 70.58% of the stock is owned by hedge funds and other institutional investors.
Shares of Primoris Services traded up $0.27, hitting $25.64, during midday trading on Friday, according to MarketBeat.com. 227,450 shares of the company traded hands, compared to its average volume of 185,620. Primoris Services has a 52 week low of $23.61 and a 52 week high of $30.00. The company has a market capitalization of $1.31 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.56 and a beta of 1.12. The company has a quick ratio of 1.58, a current ratio of 1.55 and a debt-to-equity ratio of 0.61.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, September 27th. Primoris Services’s dividend payout ratio (DPR) is presently 20.87%.
Primoris Services Company Profile
Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services in the United States and internationally. It operates through Power, Pipeline, Utilities, and Civil segments.
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