Wall Street brokerages expect Primoris Services Corp (NASDAQ:PRIM) to post earnings per share (EPS) of $0.69 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Primoris Services’ earnings, with the highest EPS estimate coming in at $0.71 and the lowest estimate coming in at $0.67. Primoris Services posted earnings per share of $0.63 during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.5%. The company is scheduled to announce its next quarterly earnings results before the market opens on Monday, November 4th.
According to Zacks, analysts expect that Primoris Services will report full-year earnings of $1.69 per share for the current financial year, with EPS estimates ranging from $1.68 to $1.69. For the next financial year, analysts expect that the company will post earnings of $2.34 per share, with EPS estimates ranging from $2.25 to $2.43. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Primoris Services.
Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $789.90 million for the quarter, compared to analyst estimates of $749.23 million. Primoris Services had a net margin of 2.62% and a return on equity of 13.95%. Primoris Services’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share.
Several equities analysts recently issued reports on PRIM shares. BidaskClub upgraded shares of Primoris Services from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. Zacks Investment Research lowered shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, ValuEngine upgraded shares of Primoris Services from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.
In related news, Director Stephen C. Cook sold 2,349 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $20.92, for a total value of $49,141.08. Following the transaction, the director now owns 14,172 shares in the company, valued at $296,478.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brian Pratt sold 19,678 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $20.01, for a total transaction of $393,756.78. Following the completion of the transaction, the director now owns 2,114,721 shares in the company, valued at approximately $42,315,567.21. The disclosure for this sale can be found here. In the last 90 days, insiders sold 492,787 shares of company stock worth $10,065,268. 13.80% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its stake in Primoris Services by 226.9% in the third quarter. Meeder Asset Management Inc. now owns 3,151 shares of the construction company’s stock valued at $62,000 after purchasing an additional 2,187 shares in the last quarter. Bank of Montreal Can increased its stake in Primoris Services by 206.7% in the second quarter. Bank of Montreal Can now owns 5,490 shares of the construction company’s stock valued at $114,000 after purchasing an additional 3,700 shares in the last quarter. Aperio Group LLC bought a new stake in Primoris Services in the second quarter valued at $152,000. Envestnet Asset Management Inc. increased its stake in Primoris Services by 9.6% in the third quarter. Envestnet Asset Management Inc. now owns 11,780 shares of the construction company’s stock valued at $231,000 after purchasing an additional 1,031 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Primoris Services by 19.3% in the second quarter. JPMorgan Chase & Co. now owns 12,173 shares of the construction company’s stock valued at $248,000 after purchasing an additional 1,972 shares in the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.
Shares of NASDAQ:PRIM traded up $0.03 during mid-day trading on Tuesday, reaching $21.21. 96,182 shares of the company’s stock were exchanged, compared to its average volume of 167,551. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 12.48 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.42 and a current ratio of 1.42. Primoris Services has a twelve month low of $17.80 and a twelve month high of $24.85. The business’s fifty day moving average price is $19.95 and its 200-day moving average price is $20.19.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.06 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.24 annualized dividend and a yield of 1.13%. Primoris Services’s payout ratio is 14.12%.
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.
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