News articles about Primoris Services Corporation (NASDAQ:PRIM) have been trending somewhat positive on Thursday, according to Accern Sentiment. The research firm identifies negative and positive news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Primoris Services Corporation earned a news sentiment score of 0.16 on Accern’s scale. Accern also assigned news stories about the construction company an impact score of 45.6686461655923 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the media headlines that may have impacted Accern Sentiment’s rankings:
Primoris Services Corporation (NASDAQ:PRIM) traded up 1.85% during midday trading on Thursday, hitting $28.09. The company had a trading volume of 164,678 shares. Primoris Services Corporation has a 1-year low of $18.71 and a 1-year high of $30.00. The firm has a market capitalization of $1.44 billion, a P/E ratio of 30.57 and a beta of 1.55. The company has a 50 day moving average price of $28.63 and a 200 day moving average price of $25.64.
Primoris Services Corporation (NASDAQ:PRIM) last released its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.11. The firm had revenue of $631.20 million for the quarter, compared to analyst estimates of $582.82 million. Primoris Services Corporation had a net margin of 2.09% and a return on equity of 11.30%. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. Equities research analysts forecast that Primoris Services Corporation will post $1.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, October 14th. Stockholders of record on Friday, September 29th were given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, September 28th. Primoris Services Corporation’s payout ratio is presently 23.40%.
PRIM has been the subject of several recent research reports. Zacks Investment Research lowered Primoris Services Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. BidaskClub lowered Primoris Services Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. TheStreet raised Primoris Services Corporation from a “c+” rating to a “b-” rating in a research note on Friday, August 11th. KeyCorp reaffirmed a “hold” rating on shares of Primoris Services Corporation in a research note on Tuesday, September 19th. Finally, Canaccord Genuity upped their price objective on Primoris Services Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $29.00.
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In other Primoris Services Corporation news, CFO Peter J. Moerbeek sold 19,778 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $28.99, for a total value of $573,364.22. Following the sale, the chief financial officer now owns 43,346 shares of the company’s stock, valued at $1,256,600.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Pratt sold 311,933 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $28.08, for a total value of $8,759,078.64. Following the completion of the sale, the director now directly owns 9,646,585 shares in the company, valued at approximately $270,876,106.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,548,356 shares of company stock worth $43,921,202. Corporate insiders own 24.00% of the company’s stock.
About Primoris Services Corporation
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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