Analysts expect Primoris Services Corp (NASDAQ:PRIM) to announce $0.24 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Primoris Services’ earnings, with estimates ranging from $0.18 to $0.29. Primoris Services reported earnings of $0.28 per share during the same quarter last year, which would indicate a negative year over year growth rate of 14.3%. The firm is expected to issue its next earnings results on Tuesday, February 27th.
On average, analysts expect that Primoris Services will report full-year earnings of $1.13 per share for the current year, with EPS estimates ranging from $1.05 to $1.25. For the next fiscal year, analysts forecast that the company will post earnings of $1.36 per share, with EPS estimates ranging from $1.35 to $1.38. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Primoris Services.
Several research firms have commented on PRIM. Zacks Investment Research upgraded Primoris Services from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. BidaskClub lowered Primoris Services from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 20th. Finally, Canaccord Genuity restated a “buy” rating and issued a $30.00 price objective on shares of Primoris Services in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Primoris Services currently has a consensus rating of “Hold” and a consensus target price of $31.67.
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 transaction 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 approximately $171,218.06. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John P. Schauerman sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $28.00, for a total value of $1,400,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,057 shares of company stock worth $1,759,706. Insiders own 24.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its stake in shares of Primoris Services by 8.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,238 shares of the construction company’s stock worth $106,000 after buying an additional 320 shares during the period. First Quadrant L P CA raised its stake in shares of Primoris Services by 109.4% during the 3rd quarter. First Quadrant L P CA now owns 4,356 shares of the construction company’s stock worth $128,000 after buying an additional 2,276 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Primoris Services during the 3rd quarter worth approximately $138,000. SG Americas Securities LLC acquired a new position in shares of Primoris Services during the 3rd quarter worth approximately $152,000. Finally, Great West Life Assurance Co. Can raised its stake in shares of Primoris Services by 159.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 5,985 shares of the construction company’s stock worth $175,000 after buying an additional 3,675 shares during the period. 69.79% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: “Primoris Services Corp (PRIM) Expected to Announce Earnings of $0.24 Per Share” was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another site, it was stolen and republished in violation of US and international trademark & copyright laws. The original version of this article can be read at https://www.americanbankingnews.com/2018/02/13/primoris-services-corp-prim-expected-to-announce-earnings-of-0-24-per-share.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Primoris Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primoris Services and related companies with MarketBeat.com's FREE daily email newsletter.