Primoris Services Corporation (PRIM) to Release Earnings on Tuesday
Primoris Services Corporation (NASDAQ:PRIM) is scheduled to release its earnings data before the market opens on Tuesday, November 7th. Analysts expect Primoris Services Corporation to post earnings of $0.33 per share for the quarter. Primoris Services Corporation has set its FY17 guidance at $1.05-1.25 EPS.
Primoris Services Corporation (NASDAQ:PRIM) last released its earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.11. Primoris Services Corporation had a return on equity of 11.30% and a net margin of 2.09%. The company had revenue of $631.20 million for the quarter, compared to analysts’ expectations of $582.82 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. On average, analysts expect Primoris Services Corporation to post $1.19 EPS for the current fiscal year and $1.47 EPS for the next fiscal year.
Primoris Services Corporation (PRIM) opened at 28.18 on Tuesday. The firm’s 50-day moving average price is $28.65 and its 200 day moving average price is $25.77. The firm has a market cap of $1.45 billion, a PE ratio of 30.66 and a beta of 1.55. Primoris Services Corporation has a 52-week low of $18.71 and a 52-week high of $30.00.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 14th. Stockholders of record on Friday, September 29th were issued a dividend of $0.055 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.78%. Primoris Services Corporation’s dividend payout ratio (DPR) is presently 23.40%.
In other Primoris Services Corporation news, Director Brian Pratt sold 105,734 shares of Primoris Services Corporation stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $28.20, for a total value of $2,981,698.80. Following the transaction, the director now owns 9,646,585 shares in the company, valued at $272,033,697. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Peter J. Moerbeek sold 19,778 shares of Primoris Services Corporation stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $28.99, for a total transaction of $573,364.22. Following the completion of the transaction, the chief financial officer now owns 43,346 shares in the company, valued at approximately $1,256,600.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,548,356 shares of company stock worth $43,921,202. 24.00% of the stock is currently owned by company insiders.
A number of research analysts recently commented on PRIM shares. TheStreet upgraded shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a research note on Friday, August 11th. Seaport Global Securities reiterated a “buy” rating and set a $32.00 price objective (up previously from $29.00) on shares of Primoris Services Corporation in a research note on Wednesday, October 11th. Zacks Investment Research lowered shares of Primoris Services Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 18th. KeyCorp reiterated a “hold” rating on shares of Primoris Services Corporation in a research note on Tuesday, September 19th. Finally, BidaskClub upgraded shares of Primoris Services Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $29.00.
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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