Primoris Services Corporation (PRIM) Given Consensus Rating of “Hold” by Analysts
Primoris Services Corporation (NASDAQ:PRIM) has been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $31.00.
PRIM has been the subject of several analyst reports. Zacks Investment Research raised Primoris Services from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Saturday, October 14th. Seaport Global Securities reissued a “buy” rating and issued a $32.00 price objective (up from $29.00) on shares of Primoris Services in a research note on Wednesday, October 11th. Canaccord Genuity reissued a “buy” rating and issued a $30.00 price objective on shares of Primoris Services in a research note on Tuesday, November 7th. KeyCorp reissued a “hold” rating on shares of Primoris Services in a research note on Tuesday, September 19th. Finally, BidaskClub downgraded Primoris Services from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th.
In other news, CEO David Lee King sold 9,077 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $27.43, for a total value of $248,982.11. Following the completion of the transaction, the chief executive officer now directly owns 6,242 shares of the company’s stock, valued at $171,218.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John P. Schauerman sold 29,456 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $28.76, for a total value of $847,154.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,513 shares of company stock valued at $2,606,860. 24.00% of the stock is currently owned by corporate insiders.
Shares of Primoris Services (NASDAQ:PRIM) opened at $27.06 on Tuesday. The company has a market capitalization of $1,392.20, a P/E ratio of 21.65, a PEG ratio of 1.99 and a beta of 1.59. Primoris Services has a 52 week low of $21.83 and a 52 week high of $30.00. The company has a quick ratio of 1.41, a current ratio of 1.49 and a debt-to-equity ratio of 0.36.
Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings data on Monday, November 6th. The construction company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. The firm had revenue of $608.31 million during the quarter, compared to the consensus estimate of $588.19 million. Primoris Services had a return on equity of 11.70% and a net margin of 2.68%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. equities research analysts predict that Primoris Services will post 1.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Friday, December 29th were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This is a positive change from Primoris Services’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 0.89%. Primoris Services’s dividend payout ratio is currently 19.20%.
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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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