Zacks: Analysts Anticipate Primoris Services Corporation (PRIM) to Announce $0.25 Earnings Per Share
Equities analysts expect Primoris Services Corporation (NASDAQ:PRIM) to report earnings of $0.25 per share for the current quarter, according to Zacks. Three analysts have provided estimates for Primoris Services’ earnings, with the highest EPS estimate coming in at $0.29 and the lowest estimate coming in at $0.18. Primoris Services reported earnings per share of $0.28 during the same quarter last year, which indicates a negative year-over-year growth rate of 10.7%. The company is expected to announce its next quarterly earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that Primoris Services will report full year earnings of $1.20 per share for the current fiscal year, with EPS estimates ranging from $1.08 to $1.25. For the next fiscal year, analysts anticipate that the company will report earnings of $1.40 per share, with EPS estimates ranging from $1.34 to $1.54. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Primoris Services.
Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Monday, November 6th. The construction company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. Primoris Services had a net margin of 2.68% and a return on equity of 11.70%. The firm had revenue of $608.31 million for the quarter, compared to analyst estimates of $588.19 million. During the same period last year, the firm posted $0.09 EPS. Primoris Services’s quarterly revenue was up 19.8% on a year-over-year basis.
In other news, Director Brian Pratt sold 88,500 shares of Primoris Services stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $28.67, for a total transaction of $2,537,295.00. Following the completion of the transaction, the director now owns 8,659,574 shares of the company’s stock, valued at approximately $248,269,986.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter J. Moerbeek sold 19,778 shares of Primoris Services stock in a transaction on Monday, September 25th. The stock was sold at an average price of $28.99, for a total value of $573,364.22. Following the transaction, the chief financial officer now directly owns 43,346 shares of the company’s stock, valued at approximately $1,256,600.54. The disclosure for this sale can be found here. In the last three months, insiders sold 1,337,523 shares of company stock valued at $37,996,732. 24.00% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. CIBC World Markets Inc. raised its stake in shares of Primoris Services by 1.9% during the 2nd quarter. CIBC World Markets Inc. now owns 318,876 shares of the construction company’s stock worth $7,953,000 after buying an additional 6,000 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in shares of Primoris Services during the 2nd quarter worth $575,000. Bessemer Group Inc. acquired a new position in shares of Primoris Services during the 3rd quarter worth $615,000. Teachers Advisors LLC raised its stake in shares of Primoris Services by 3.0% during the 1st quarter. Teachers Advisors LLC now owns 71,710 shares of the construction company’s stock worth $1,665,000 after buying an additional 2,065 shares during the last quarter. Finally, Susquehanna International Group LLP raised its stake in shares of Primoris Services by 193.8% during the 2nd quarter. Susquehanna International Group LLP now owns 115,719 shares of the construction company’s stock worth $2,886,000 after buying an additional 76,335 shares during the last quarter. 70.46% of the stock is owned by institutional investors and hedge funds.
Primoris Services (PRIM) traded up $0.25 during trading hours on Thursday, reaching $28.30. 145,100 shares of the company were exchanged, compared to its average volume of 227,732. Primoris Services has a 1 year low of $21.83 and a 1 year high of $30.00. The company has a current ratio of 1.49, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1,443.14, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 2.34 and a beta of 1.59.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.85%. This is an increase from Primoris Services’s previous quarterly dividend of $0.06. Primoris Services’s dividend payout ratio (DPR) is 17.60%.
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Primoris Services 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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