Primoris Services (NASDAQ:PRIM) Posts Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Primoris Services (NASDAQ:PRIM) released its quarterly earnings data on Sunday. The construction company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.23, MarketWatch Earnings reports. Primoris Services had a net margin of 2.96% and a return on equity of 16.17%. The company had revenue of $897.34 million during the quarter, compared to analyst estimates of $852.93 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year.

PRIM traded up $1.05 during trading hours on Tuesday, reaching $34.55. 59,031 shares of the stock traded hands, compared to its average volume of 277,193. The firm’s fifty day simple moving average is $30.92 and its two-hundred day simple moving average is $23.81. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 16.50 and a beta of 1.32. Primoris Services has a fifty-two week low of $9.42 and a fifty-two week high of $33.74. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.43 and a quick ratio of 1.43.

Several research firms have recently issued reports on PRIM. TheStreet raised shares of Primoris Services from a “c+” rating to a “b” rating in a research report on Friday, November 6th. DA Davidson increased their price objective on shares of Primoris Services from $28.00 to $35.00 in a research report on Thursday, December 17th. Finally, Zacks Investment Research raised shares of Primoris Services from a “hold” rating to a “strong-buy” rating and set a $24.00 price target for the company in a report on Tuesday, November 10th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.00.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through five segments: Power, Industrial, and Engineering; Pipeline and Underground; Utilities and Distribution; Transmission and Distribution; and Civil.

Recommended Story: What sectors are represented in the Nikkei Index?

Earnings History for Primoris Services (NASDAQ:PRIM)

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.