Primoris Services (NASDAQ:PRIM) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.50-1.70 for the period, compared to the Thomson Reuters consensus estimate of $1.44. Primoris Services also updated its FY 2018 guidance to $1.50-1.70 EPS.
PRIM stock traded up $0.97 during trading on Tuesday, hitting $23.63. The company had a trading volume of 322,767 shares, compared to its average volume of 189,131. The company has a market capitalization of $1.15 billion, a PE ratio of 20.55, a P/E/G ratio of 1.45 and a beta of 1.24. Primoris Services has a 52-week low of $20.79 and a 52-week high of $28.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.55 and a quick ratio of 1.55.
Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The company had revenue of $908.90 million for the quarter, compared to the consensus estimate of $789.90 million. Primoris Services had a net margin of 2.37% and a return on equity of 8.23%. The firm’s revenue was up 49.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. Sell-side analysts forecast that Primoris Services will post 1.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.02%. The ex-dividend date was Thursday, September 27th. Primoris Services’s dividend payout ratio is presently 20.87%.
Several research analysts recently commented on PRIM shares. Zacks Investment Research raised shares of Primoris Services from a hold rating to a strong-buy rating and set a $29.00 price target on the stock in a research note on Saturday, August 11th. ValuEngine downgraded shares of Primoris Services from a hold rating to a sell rating in a research note on Tuesday, October 2nd. Finally, BidaskClub downgraded shares of Primoris Services from a buy rating to a hold rating in a research note on Wednesday, September 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Primoris Services has an average rating of Hold and an average price target of $30.75.
In other Primoris Services news, Director Stephen C. Cook sold 1,964 shares of the 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 transaction, the director now directly owns 11,897 shares in the company, valued at approximately $297,425. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Lee King sold 7,866 shares of the stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $25.44, for a total transaction of $200,111.04. Following the transaction, the chief executive officer now owns 6,242 shares in the company, valued at $158,796.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 734,833 shares of company stock worth $18,475,786. 19.50% of the stock is owned by company insiders.
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About Primoris Services
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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