Analysts Anticipate Primoris Services Corp (PRIM) to Announce $0.63 Earnings Per Share

Analysts forecast that Primoris Services Corp (NASDAQ:PRIM) will post earnings of $0.63 per share for the current quarter, Zacks reports. Two analysts have made estimates for Primoris Services’ earnings. Primoris Services reported earnings per share of $0.25 during the same quarter last year, which suggests a positive year over year growth rate of 152%. The business is scheduled to report its next earnings report before the market opens on Thursday, February 28th.

On average, analysts expect that Primoris Services will report full year earnings of $1.50 per share for the current year. For the next fiscal year, analysts anticipate that the business will report earnings of $1.79 per share, with EPS estimates ranging from $1.42 to $2.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Primoris Services.

PRIM has been the subject of a number of recent analyst reports. BidaskClub lowered Primoris Services from a “hold” rating to a “sell” rating in a report on Saturday, January 19th. ValuEngine raised Primoris Services from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Zacks Investment Research upgraded Primoris Services from a “sell” rating to a “hold” rating in a report on Friday, November 9th. Finally, TheStreet lowered Primoris Services from a “b-” rating to a “c+” rating in a report on Wednesday, December 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Primoris Services currently has a consensus rating of “Hold” and a consensus price target of $29.00.

Shares of Primoris Services stock traded up $0.32 on Wednesday, reaching $21.07. 181,899 shares of the company were exchanged, compared to its average volume of 174,717. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.11 and a beta of 1.35. Primoris Services has a 1-year low of $17.82 and a 1-year high of $28.90.

Several large investors have recently bought and sold shares of PRIM. Alliancebernstein L.P. raised its position in Primoris Services by 52.4% in the 3rd quarter. Alliancebernstein L.P. now owns 1,272,707 shares of the construction company’s stock worth $31,589,000 after purchasing an additional 437,629 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Primoris Services by 8.7% in the 2nd quarter. BlackRock Inc. now owns 2,649,085 shares of the construction company’s stock valued at $72,135,000 after buying an additional 212,126 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Primoris Services by 47.4% in the 3rd quarter. Victory Capital Management Inc. now owns 21,895 shares of the construction company’s stock valued at $543,000 after buying an additional 7,038 shares during the period. Deprince Race & Zollo Inc. acquired a new position in shares of Primoris Services in the 3rd quarter valued at $30,721,000. Finally, Comerica Bank acquired a new position in Primoris Services in the 3rd quarter worth $1,182,000. Institutional investors own 77.94% of the company’s stock.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services in the United States and internationally. It operates through Power, Pipeline, Utilities, and Civil segments.

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