Primoris Services Corporation (NASDAQ:PRIM) announced its earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.11, MarketWatch Earnings reports. Primoris Services Corporation had a net margin of 2.09% and a return on equity of 11.30%. The business had revenue of $631.20 million for the quarter, compared to the consensus estimate of $582.82 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. Primoris Services Corporation updated its FY17 guidance to $1.05-1.25 EPS.
Primoris Services Corporation (PRIM) traded down 0.49% on Friday, reaching $26.28. 127,750 shares of the company traded hands. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 28.60 and a beta of 1.58. The stock has a 50 day moving average of $25.22 and a 200-day moving average of $24.24. Primoris Services Corporation has a 1-year low of $17.46 and a 1-year high of $29.19.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 14th. Investors of record on Friday, September 29th will be paid a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, September 28th. Primoris Services Corporation’s dividend payout ratio is presently 23.40%.
PRIM has been the topic of several recent analyst reports. TheStreet raised shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a research note on Friday, August 11th. Canaccord Genuity increased their target price on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Saturday, July 15th. Finally, BidaskClub raised shares of Primoris Services Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Primoris Services Corporation has a consensus rating of “Hold” and a consensus price target of $26.40.
ILLEGAL ACTIVITY WARNING: “Primoris Services Corporation (PRIM) Posts Earnings Results, Beats Expectations By $0.11 EPS” was first posted by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece of content can be viewed at https://www.com-unik.info/2017/08/19/primoris-services-corporation-prim-announces-earnings-results-updated.html.
About Primoris Services Corporation
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.
What are top analysts saying about Primoris Services Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Primoris Services Corporation and related companies.