Primoris Services (NASDAQ:PRIM) issued an update on its FY 2018 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.50-1.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.42.
Shares of NASDAQ:PRIM opened at $22.66 on Tuesday. Primoris Services has a 52-week low of $20.79 and a 52-week high of $28.96. The firm has a market capitalization of $1.15 billion, a P/E ratio of 19.70, a P/E/G ratio of 1.45 and a beta of 1.24. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.61.
Primoris Services (NASDAQ:PRIM) last announced its earnings results on Tuesday, August 7th. The construction company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. Primoris Services had a net margin of 2.37% and a return on equity of 8.23%. The company had revenue of $648.79 million during the quarter, compared to analyst estimates of $593.65 million. Sell-side analysts predict that Primoris Services will post 1.54 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.06 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.24 annualized dividend and a yield of 1.06%. Primoris Services’s dividend payout ratio (DPR) is presently 20.87%.
Several analysts have issued reports on PRIM shares. ValuEngine lowered shares of Primoris Services from a buy rating to a hold rating in a research report on Wednesday, August 8th. BidaskClub lowered shares of Primoris Services from a buy rating to a hold rating in a research report on Wednesday, September 5th. Finally, Zacks Investment Research lowered shares of Primoris Services from a hold rating to a sell rating in a research report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Primoris Services currently has a consensus rating of Hold and a consensus target price of $30.75.
In other Primoris Services news, CEO David Lee King sold 7,866 shares of the company’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $25.44, for a total transaction of $200,111.04. Following the completion of the sale, the chief executive officer now directly owns 6,242 shares in the company, valued at $158,796.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen C. Cook sold 1,964 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $25.00, for a total transaction of $49,100.00. Following the sale, the director now owns 11,897 shares of the company’s stock, valued at $297,425. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 734,833 shares of company stock valued at $18,475,786. Company insiders own 19.50% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Primoris Services (PRIM) Issues FY 2018 Earnings Guidance” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/11/06/primoris-services-prim-issues-fy-2018-earnings-guidance.html.
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.
Featured Story: Ex-Dividend
Receive News & Ratings for Primoris Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primoris Services and related companies with MarketBeat.com's FREE daily email newsletter.