Primoris Services Corporation (PRIM) to Release Earnings on Tuesday

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.

Earnings History for Primoris Services Corporation (NASDAQ:PRIM)

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