Primoris Services Corporation (NASDAQ:PRIM) is set to post its quarterly earnings results 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 issued its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.11. Primoris Services Corporation had a net margin of 2.09% and a return on equity of 11.30%. The company had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $582.82 million. During the same period last year, the company posted $0.10 EPS. Primoris Services Corporation’s revenue was up 38.2% on a year-over-year basis. On average, analysts expect Primoris Services Corporation to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Primoris Services Corporation (PRIM) opened at $28.03 on Friday. Primoris Services Corporation has a 12-month low of $18.73 and a 12-month high of $30.00. The stock has a market cap of $1,445.37, a PE ratio of 25.25, a P/E/G ratio of 2.36 and a beta of 1.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.36 and a current ratio of 1.45.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 14th. Investors of record on Friday, September 29th were given 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 yield of 0.78%. Primoris Services Corporation’s dividend payout ratio (DPR) is currently 23.40%.
In other Primoris Services Corporation news, CFO Peter J. Moerbeek sold 19,778 shares of Primoris Services Corporation stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $28.99, for a total value of $573,364.22. Following the completion of the transaction, the chief financial officer now directly owns 43,346 shares of the company’s stock, valued at $1,256,600.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Pratt sold 105,099 shares of Primoris Services Corporation stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $28.00, for a total transaction of $2,942,772.00. Following the completion of the transaction, the director now directly owns 9,646,585 shares of the company’s stock, valued at $270,104,380. The disclosure for this sale can be found here. Insiders sold 1,548,356 shares of company stock valued at $43,921,202 over the last ninety days. Corporate insiders own 24.00% of the company’s stock.
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A number of research analysts recently issued reports on the stock. BidaskClub raised shares of Primoris Services Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Canaccord Genuity lifted their price target on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. TheStreet raised shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a research report on Friday, August 11th. Zacks Investment Research cut shares of Primoris Services Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Seaport Global Securities reissued a “buy” rating and set a $32.00 price target (up from $29.00) on shares of Primoris Services Corporation in a research report on Wednesday, October 11th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target 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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