Equities research analysts expect Primoris Services Corp (NASDAQ:PRIM) to report $566.2 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Primoris Services Corp’s earnings. The highest sales estimate is $583.1 million and the lowest is $547.5 million. Primoris Services Corp posted sales of $456.81 million in the same quarter last year, which suggests a positive year-over-year growth rate of 23.9%. The company is expected to report its next quarterly earnings results on Thursday, August 3rd.

On average, analysts expect that Primoris Services Corp will report full-year sales of $566.2 million for the current year, with estimates ranging from $2.13 billion to $2.24 billion. For the next financial year, analysts anticipate that the company will post sales of $2.36 billion per share, with estimates ranging from $2.27 billion to $2.4 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Primoris Services Corp.

Primoris Services Corp (NASDAQ:PRIM) last released its earnings results on Tuesday, May 9th. The construction company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Primoris Services Corp had a net margin of 1.31% and a return on equity of 6.87%. The company had revenue of $561.50 million for the quarter, compared to the consensus estimate of $517.50 million. During the same period in the prior year, the company posted $0.05 EPS. The company’s revenue was up 30.5% compared to the same quarter last year.

Several equities analysts have issued reports on the company. DA Davidson reissued a “neutral” rating on shares of Primoris Services Corp in a research note on Monday, February 27th. Canaccord Genuity reissued a “buy” rating and issued a $28.00 price target on shares of Primoris Services Corp in a research note on Friday, February 24th. Finally, Stephens assumed coverage on Primoris Services Corp in a research note on Tuesday, February 7th. They issued an “equal weight” rating on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $24.80.

Institutional investors have recently modified their holdings of the company. A.R.T. Advisors LLC purchased a new position in shares of Primoris Services Corp during the fourth quarter worth $799,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Primoris Services Corp during the fourth quarter worth $286,000. Dimensional Fund Advisors LP raised its position in shares of Primoris Services Corp by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,025,635 shares of the construction company’s stock worth $46,144,000 after buying an additional 11,316 shares during the last quarter. State Street Corp raised its position in shares of Primoris Services Corp by 5.5% in the fourth quarter. State Street Corp now owns 691,569 shares of the construction company’s stock worth $15,756,000 after buying an additional 36,170 shares during the last quarter. Finally, Value Holdings Management CO. LLC purchased a new position in shares of Primoris Services Corp during the fourth quarter worth $10,758,000. 72.83% of the stock is currently owned by institutional investors.

Primoris Services Corp (NASDAQ:PRIM) opened at 23.66 on Friday. The firm’s 50-day moving average is $23.11 and its 200-day moving average is $23.36. The firm has a market capitalization of $1.22 billion, a P/E ratio of 38.79 and a beta of 1.65. Primoris Services Corp has a 52-week low of $16.13 and a 52-week high of $29.19.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Wednesday, June 28th. Primoris Services Corp’s payout ratio is 45.83%.

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Primoris Services Corp Company Profile

Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.

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