Primoris Services Corporation (NYSE:PRIM) Announces Quarterly Dividend of $0.08

Primoris Services Corporation (NYSE:PRIM) declared a quarterly dividend on Tuesday, February 17th. Investors of record on Tuesday, March 31st will be given a dividend of 0.08 per share on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 31st.

Primoris Services has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Primoris Services has a dividend payout ratio of 6.4% indicating that its dividend is sufficiently covered by earnings.

Primoris Services Price Performance

PRIM stock opened at $143.67 on Friday. The firm has a 50-day moving average of $149.73. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.24. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of 28.56 and a beta of 1.36. Primoris Services has a 1 year low of $49.10 and a 1 year high of $174.43.

Primoris Services (NYSE:PRIM) last released its earnings results on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Primoris Services in a report on Tuesday, January 20th. Zacks Research cut Primoris Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. JPMorgan Chase & Co. increased their price target on shares of Primoris Services from $143.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. UBS Group raised their price objective on shares of Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, Mizuho upped their target price on shares of Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.20.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. 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. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.