Primoris Services Corporation (NASDAQ:PRIM) – Research analysts at Seaport Global Securities issued their Q3 2017 earnings estimates for Primoris Services Corporation in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Shlisky forecasts that the construction company will post earnings of $0.31 per share for the quarter. Seaport Global Securities has a “Buy” rating and a $32.00 price objective on the stock. Seaport Global Securities also issued estimates for Primoris Services Corporation’s Q4 2017 earnings at $0.30 EPS, FY2017 earnings at $1.18 EPS, Q1 2018 earnings at $0.09 EPS, Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.42 EPS, FY2018 earnings at $1.43 EPS and FY2019 earnings at $1.69 EPS.

Primoris Services Corporation (NASDAQ:PRIM) last announced its earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.11. The firm had revenue of $631.20 million during the quarter, compared to analyst estimates of $582.82 million. Primoris Services Corporation had a net margin of 2.09% and a return on equity of 11.30%. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 EPS. ILLEGAL ACTIVITY WARNING: “Equities Analysts Offer Predictions for Primoris Services Corporation’s Q3 2017 Earnings (PRIM)” was originally reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/10/13/equities-analysts-offer-predictions-for-primoris-services-corporations-q3-2017-earnings-prim.html.

A number of other research firms have also recently commented on PRIM. KeyCorp restated a “hold” rating on shares of Primoris Services Corporation in a report on Tuesday, September 19th. TheStreet upgraded shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a report on Friday, August 11th. BidaskClub upgraded shares of Primoris Services Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Canaccord Genuity raised their price target on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research cut shares of Primoris Services Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Primoris Services Corporation presently has a consensus rating of “Hold” and an average target price of $28.00.

Primoris Services Corporation (NASDAQ:PRIM) opened at 29.05 on Friday. Primoris Services Corporation has a 52 week low of $18.71 and a 52 week high of $30.00. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 31.61 and a beta of 1.55. The company has a 50-day moving average of $28.62 and a 200-day moving average of $25.30.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 14th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, September 28th. Primoris Services Corporation’s dividend payout ratio is currently 23.40%.

In other news, Director Brian Pratt sold 105,734 shares of Primoris Services Corporation stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $28.20, for a total transaction of $2,981,698.80. Following the completion of the transaction, the director now directly owns 9,646,585 shares in the company, valued at $272,033,697. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter J. Moerbeek sold 19,778 shares of Primoris Services Corporation stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $28.99, for a total transaction of $573,364.22. Following the transaction, the chief financial officer now owns 43,346 shares of the company’s stock, valued at $1,256,600.54. The disclosure for this sale can be found here. Insiders have sold 1,548,356 shares of company stock valued at $43,921,202 over the last quarter. Corporate insiders own 24.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its holdings in shares of Primoris Services Corporation by 8.2% during 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 during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Primoris Services Corporation by 13.0% during 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 during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Primoris Services Corporation by 554.1% during 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 during the last quarter. Citigroup Inc. grew its holdings in shares of Primoris Services Corporation by 356.6% during 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 during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Primoris Services Corporation by 2,368.0% during 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 during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

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.

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

Receive News & Ratings for Primoris Services Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primoris Services Corporation and related companies with MarketBeat.com's FREE daily email newsletter.