Brokerages predict that Primoris Services Corporation (NASDAQ:PRIM) will post earnings of $0.32 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Primoris Services Corporation’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.35. Primoris Services Corporation posted earnings of $0.26 per share during the same quarter last year, which suggests a positive year over year growth rate of 23.1%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 14th.

According to Zacks, analysts expect that Primoris Services Corporation will report full-year earnings of $1.16 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.26. For the next fiscal year, analysts anticipate that the business will report earnings of $1.42 per share, with EPS estimates ranging from $1.34 to $1.55. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Primoris Services Corporation.

Primoris Services Corporation (NASDAQ:PRIM) last announced its earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.11. The company had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $582.82 million. Primoris Services Corporation had a net margin of 2.09% and a return on equity of 11.30%. Primoris Services Corporation’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 earnings per share.

Several research analysts have recently weighed in on the company. BidaskClub upgraded Primoris Services Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. TheStreet upgraded Primoris Services Corporation from a “c+” rating to a “b-” rating in a research note on Friday, August 11th. Canaccord Genuity raised their target price on Primoris Services Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Zacks Investment Research downgraded Primoris Services Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $26.40.

Shares of Primoris Services Corporation (PRIM) traded up 0.57% during midday trading on Wednesday, hitting $26.50. 31,077 shares of the stock were exchanged. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 28.84 and a beta of 1.58. The stock’s 50-day moving average price is $25.10 and its 200-day moving average price is $24.20. Primoris Services Corporation has a 1-year low of $17.26 and a 1-year high of $29.19.

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 14th. Shareholders of record on Friday, September 29th will be paid a $0.055 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.22 annualized dividend and a yield of 0.83%. Primoris Services Corporation’s dividend payout ratio is currently 23.40%.

A number of hedge funds and other institutional investors have recently modified their holdings of PRIM. Public Employees Retirement System of Ohio increased its position in shares of Primoris Services Corporation by 8.2% in the second quarter. Public Employees Retirement System of Ohio now owns 4,238 shares of the construction company’s stock valued at $106,000 after buying an additional 320 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Primoris Services Corporation by 13.0% in the first quarter. Victory Capital Management Inc. now owns 5,168 shares of the construction company’s stock valued at $120,000 after buying an additional 595 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Primoris Services Corporation by 554.1% in the second quarter. BNP Paribas Arbitrage SA now owns 5,573 shares of the construction company’s stock valued at $139,000 after buying an additional 4,721 shares in the last quarter. Citigroup Inc. increased its position in shares of Primoris Services Corporation by 356.6% in the second quarter. Citigroup Inc. now owns 6,465 shares of the construction company’s stock valued at $161,000 after buying an additional 5,049 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Primoris Services Corporation by 2,368.0% in the second quarter. JPMorgan Chase & Co. now owns 7,404 shares of the construction company’s stock valued at $184,000 after buying an additional 7,104 shares in the last quarter. Institutional investors and hedge funds own 69.97% of the company’s stock.

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

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