Primoris Services Corporation (NASDAQ:PRIM) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.05-1.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.15.

Shares of Primoris Services Corporation (NASDAQ PRIM) opened at 24.92 on Tuesday. The firm has a market cap of $1.28 billion, a P/E ratio of 40.85 and a beta of 1.58. Primoris Services Corporation has a 52-week low of $16.13 and a 52-week high of $29.19. The firm’s 50-day moving average is $24.78 and its 200-day moving average is $24.04.

Primoris Services Corporation (NASDAQ:PRIM) last announced its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.11. The business had revenue of $631.20 million for the quarter, compared to analysts’ expectations of $582.82 million. Primoris Services Corporation had a return on equity of 8.15% and a net margin of 1.49%. The business’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. Analysts anticipate that Primoris Services Corporation will post $1.14 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a $0.055 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.22 dividend on an annualized basis and a yield of 0.88%. Primoris Services Corporation’s dividend payout ratio (DPR) is currently 35.48%.

PRIM has been the topic of a number of analyst reports. BidaskClub raised Primoris Services Corporation from a sell rating to a hold rating in a research note on Thursday, June 29th. Zacks Investment Research raised Primoris Services Corporation from a hold rating to a buy rating and set a $28.00 price target on the stock in a research note on Saturday, July 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $26.00.

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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.

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

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