Primoris Services Corp. (PRIM) Posts Quarterly Earnings, Hits Estimates
Primoris Services Corp. (NASDAQ:PRIM) posted its quarterly earnings results on Thursday. The company reported $0.31 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.31, AnalystRatings.NET reports. The company had revenue of $515.00 million for the quarter, compared to the consensus estimate of $503.10 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis.
PRIM has been the subject of a number of recent research reports. Analysts at DA Davidson cut their price target on shares of Primoris Services Corp. from $32.00 to $31.00 in a research note on Thursday, July 3rd. They now have a “neutral” rating on the stock. Analysts at Global Hunter Securities initiated coverage on shares of Primoris Services Corp. in a research note on Thursday, June 19th. They set an “accumulate” rating and a $34.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $33.50.
Primoris Services Corp. (NASDAQ:PRIM) traded up 2.39% during mid-day trading on Thursday, hitting $24.80. The stock had a trading volume of 66,007 shares. Primoris Services Corp. has a 52 week low of $21.80 and a 52 week high of $33.42. The stock’s 50-day moving average is $26.69 and its 200-day moving average is $29.25. The company has a market cap of $1.281 billion and a P/E ratio of 17.69.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.66%.
Primoris Services Corporation (NASDAQ:PRIM) is a holding company of various subsidiaries, which form specialty contractors and infrastructure companies in the United States.
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