Equities research analysts expect Primoris Services Corp (NASDAQ:PRIM) to announce earnings per share of $0.59 for the current quarter, Zacks reports. Two analysts have made estimates for Primoris Services’ earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.54. Primoris Services reported earnings per share of $0.32 in the same quarter last year, which would indicate a positive year-over-year growth rate of 84.4%. The business is expected to announce its next earnings results before the market opens on Tuesday, November 6th.
On average, analysts expect that Primoris Services will report full year earnings of $1.46 per share for the current fiscal year, with EPS estimates ranging from $1.44 to $1.48. For the next financial year, analysts forecast that the business will report earnings of $2.10 per share, with EPS estimates ranging from $2.04 to $2.15. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for 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, meeting the Zacks’ consensus estimate of $0.31. The firm had revenue of $648.79 million during the quarter, compared to the consensus estimate of $593.65 million. Primoris Services had a return on equity of 8.23% and a net margin of 2.37%.
PRIM has been the topic of a number of analyst reports. Zacks Investment Research raised Primoris Services from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. BidaskClub cut Primoris Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. Finally, ValuEngine cut Primoris Services from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $30.75.
In other news, Director Stephen C. Cook sold 1,964 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $25.00, for a total transaction of $49,100.00. Following the transaction, the director now directly owns 11,897 shares of the company’s stock, valued at $297,425. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Lee King sold 7,866 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $25.44, for a total value of $200,111.04. Following the transaction, the chief executive officer now directly owns 6,242 shares in the company, valued at $158,796.48. The disclosure for this sale can be found here. Insiders sold a total of 734,833 shares of company stock worth $18,475,786 over the last ninety days. Insiders own 19.50% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of PRIM. JPMorgan Chase & Co. increased its stake in shares of Primoris Services by 210.6% during the first quarter. JPMorgan Chase & Co. now owns 28,005 shares of the construction company’s stock valued at $699,000 after buying an additional 18,988 shares during the period. California Public Employees Retirement System boosted its position in shares of Primoris Services by 79.6% during the first quarter. California Public Employees Retirement System now owns 44,238 shares of the construction company’s stock valued at $1,105,000 after purchasing an additional 19,605 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Primoris Services by 24.0% during the first quarter. Russell Investments Group Ltd. now owns 21,951 shares of the construction company’s stock valued at $548,000 after purchasing an additional 4,251 shares in the last quarter. UBS Group AG boosted its position in shares of Primoris Services by 38.2% during the first quarter. UBS Group AG now owns 86,197 shares of the construction company’s stock valued at $2,153,000 after purchasing an additional 23,846 shares in the last quarter. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Primoris Services during the first quarter valued at approximately $253,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.
Primoris Services stock traded up $0.31 during trading hours on Monday, reaching $22.66. The company had a trading volume of 189,733 shares, compared to its average volume of 253,208. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $1.15 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24. Primoris Services has a 12-month low of $20.79 and a 12-month high of $28.96.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a $0.06 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.24 dividend on an annualized basis and a yield of 1.06%. Primoris Services’s dividend payout ratio (DPR) is currently 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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