Equities analysts expect Primoris Services Corp (NASDAQ:PRIM) to announce $0.24 earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Primoris Services’ earnings. The highest EPS estimate is $0.29 and the lowest is $0.18. Primoris Services reported earnings per share of $0.28 in the same quarter last year, which would indicate a negative year-over-year growth rate of 14.3%. The company is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, February 27th.
According to Zacks, analysts expect that Primoris Services will report full-year earnings of $1.13 per share for the current fiscal year, with EPS estimates ranging from $1.05 to $1.25. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.36 per share, with EPS estimates ranging from $1.35 to $1.38. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Primoris Services.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Primoris Services from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Canaccord Genuity reiterated a “buy” rating and set a $30.00 target price on shares of Primoris Services in a research report on Tuesday, November 7th. Finally, BidaskClub cut Primoris Services from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.67.
Primoris Services (NASDAQ:PRIM) traded down $0.02 on Tuesday, hitting $24.40. The stock had a trading volume of 84,321 shares, compared to its average volume of 252,512. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.41. Primoris Services has a twelve month low of $21.83 and a twelve month high of $30.00. The firm has a market capitalization of $1,255.36, a PE ratio of 20.85, a P/E/G ratio of 1.79 and a beta of 1.29.
In related news, Director John P. Schauerman sold 50,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $28.00, for a total value of $1,400,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen C. Cook sold 3,980 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $27.82, for a total value of $110,723.60. Following the completion of the transaction, the director now owns 10,502 shares in the company, valued at approximately $292,165.64. The disclosure for this sale can be found here. Insiders have sold 63,057 shares of company stock worth $1,759,706 in the last quarter. Insiders own 24.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System increased its position in Primoris Services by 43.5% in the 3rd quarter. California Public Employees Retirement System now owns 21,089 shares of the construction company’s stock valued at $620,000 after acquiring an additional 6,389 shares during the period. Bessemer Group Inc. acquired a new position in Primoris Services in the 3rd quarter valued at about $615,000. Convergence Investment Partners LLC acquired a new position in Primoris Services in the 3rd quarter valued at about $736,000. Prudential Financial Inc. acquired a new position in Primoris Services in the 3rd quarter valued at about $1,578,000. Finally, Citadel Advisors LLC increased its position in Primoris Services by 87.5% in the 3rd quarter. Citadel Advisors LLC now owns 134,526 shares of the construction company’s stock valued at $3,957,000 after acquiring an additional 62,767 shares during the period. Hedge funds and other institutional investors own 69.79% of the company’s stock.
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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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