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


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Primoris Services (NASDAQ:PRIM) announced its quarterly earnings results on Sunday. The construction company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $852.93 million. During the same quarter in the prior year, the business posted $0.53 EPS. Primoris Services’s quarterly revenue was up 13.6% on a year-over-year basis.

Shares of Primoris Services stock opened at $33.50 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.43 and a quick ratio of 1.43. Primoris Services has a fifty-two week low of $9.42 and a fifty-two week high of $33.74. The firm has a fifty day moving average price of $30.92 and a two-hundred day moving average price of $23.81. The company has a market cap of $1.61 billion, a PE ratio of 16.50 and a beta of 1.32.

A number of research analysts recently issued reports on the stock. DA Davidson raised their target price on shares of Primoris Services from $28.00 to $35.00 in a research note on Thursday, December 17th. Zacks Investment Research upgraded shares of Primoris Services from a “hold” rating to a “strong-buy” rating and set a $24.00 target price on the stock in a research note on Tuesday, November 10th. Finally, TheStreet upgraded shares of Primoris Services from a “c+” rating to a “b” rating in a research note on Friday, November 6th. Four research 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 an average price target of $26.00.

About Primoris Services

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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Earnings History for Primoris Services (NASDAQ:PRIM)

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