Primoris Services (PRIM) Issues FY 2018 Earnings Guidance

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.

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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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Earnings History and Estimates for Primoris Services (NASDAQ:PRIM)

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