Equities research analysts expect that Primoris Services Corporation (NASDAQ:PRIM) will announce sales of $566.20 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Primoris Services Corporation’s earnings, with the lowest sales estimate coming in at $547.50 million and the highest estimate coming in at $583.10 million. Primoris Services Corporation reported sales of $456.81 million during the same quarter last year, which would suggest a positive year over year growth rate of 23.9%. The business is expected to report its next quarterly earnings report on Thursday, August 3rd.

According to Zacks, analysts expect that Primoris Services Corporation will report full year sales of $566.20 million for the current financial year, with estimates ranging from $2.23 billion to $2.34 billion. For the next financial year, analysts forecast that the business will report sales of $2.40 billion per share, with estimates ranging from $2.38 billion to $2.45 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Primoris Services Corporation.

Primoris Services Corporation (NASDAQ:PRIM) last issued its quarterly earnings data on Tuesday, May 9th. The construction company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Primoris Services Corporation had a return on equity of 8.15% and a net margin of 1.49%. The firm had revenue of $561.50 million during the quarter, compared to the consensus estimate of $517.50 million. During the same quarter in the previous year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year.

Separately, BidaskClub raised Primoris Services Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $24.80.

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Shares of Primoris Services Corporation (PRIM) traded up 1.15% during trading on Friday, reaching $24.65. The company’s stock had a trading volume of 37,488 shares. Primoris Services Corporation has a 52-week low of $16.13 and a 52-week high of $29.19. The company has a market cap of $1.27 billion, a PE ratio of 40.41 and a beta of 1.59. The firm’s 50-day moving average is $24.02 and its 200 day moving average is $23.82.

The firm also recently announced a dividend, which will be paid on Saturday, July 15th. Shareholders of record on Friday, June 30th will be issued a $0.055 dividend. The ex-dividend date is Wednesday, June 28th. Primoris Services Corporation’s dividend payout ratio is presently 35.48%.

Several large investors have recently modified their holdings of PRIM. Vanguard Group Inc. increased its stake in shares of Primoris Services Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 3,213,218 shares of the construction company’s stock worth $74,612,000 after buying an additional 116,098 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Primoris Services Corporation by 1.0% in the first quarter. Wellington Management Group LLP now owns 2,670,443 shares of the construction company’s stock worth $62,008,000 after buying an additional 25,630 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Primoris Services Corporation by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,120,930 shares of the construction company’s stock worth $49,247,000 after buying an additional 95,295 shares in the last quarter. Van Berkom & Associates Inc. increased its stake in shares of Primoris Services Corporation by 0.5% in the first quarter. Van Berkom & Associates Inc. now owns 2,043,486 shares of the construction company’s stock worth $47,450,000 after buying an additional 10,030 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Primoris Services Corporation by 1.8% in the first quarter. Macquarie Group Ltd. now owns 1,852,926 shares of the construction company’s stock worth $43,025,000 after buying an additional 31,947 shares in the last quarter. 70.49% of the stock is currently owned by hedge funds and other institutional investors.

About Primoris Services Corporation

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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Earnings History and Estimates for Primoris Services Corporation (NASDAQ:PRIM)

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