Primoris Services (NASDAQ:PRIM) Updates FY 2025 Earnings Guidance

Primoris Services (NASDAQ:PRIM) issued an update on its FY 2025 earnings guidance on Monday morning. The company provided earnings per share guidance of 4.200-4.400 for the period, compared to the consensus earnings per share estimate of 4.040. The company issued revenue guidance of -.

Primoris Services Stock Down 2.9 %

Shares of Primoris Services stock opened at $64.13 on Tuesday. The company’s fifty day simple moving average is $77.96 and its two-hundred day simple moving average is $69.59. Primoris Services has a 12-month low of $37.00 and a 12-month high of $90.86. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The company has a market cap of $3.44 billion, a P/E ratio of 21.23 and a beta of 1.14.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.50%. Primoris Services’s payout ratio is 10.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRIM. JPMorgan Chase & Co. increased their target price on Primoris Services from $77.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. UBS Group raised their price objective on Primoris Services from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. KeyCorp initiated coverage on shares of Primoris Services in a research report on Wednesday, December 11th. They issued an “overweight” rating and a $96.00 target price on the stock. Guggenheim began coverage on shares of Primoris Services in a research report on Wednesday, January 8th. They set a “buy” rating and a $102.00 price target for the company. Finally, DA Davidson upped their price objective on shares of Primoris Services from $60.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Primoris Services has a consensus rating of “Buy” and a consensus target price of $91.50.

Insider Transactions at Primoris Services

In related news, Director David Lee King sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $83.98, for a total transaction of $167,960.00. Following the completion of the sale, the director now owns 23,818 shares of the company’s stock, valued at $2,000,235.64. This trade represents a 7.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by insiders.

About Primoris Services

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems.