Primoris Services Corp. (PRIM) Expected to Earn FY2018 Earnings of $1.40 Per Share
Primoris Services Corp. (NASDAQ:PRIM) – Equities research analysts at DA Davidson issued their FY2018 earnings per share (EPS) estimates for shares of Primoris Services Corp. in a report released on Tuesday. DA Davidson analyst J. Rogers expects that the firm will post earnings of $1.40 per share for the year. DA Davidson currently has a “Neutral” rating on the stock.
Primoris Services Corp. (NASDAQ:PRIM) last issued its earnings results on Thursday, August 4th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.12. The business had revenue of $456.81 million for the quarter, compared to the consensus estimate of $516.76 million. Primoris Services Corp. had a net margin of 2.03% and a return on equity of 8.14%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.07 EPS.
Other research analysts have also issued reports about the company. Zacks Investment Research lowered Primoris Services Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 10th. Seaport Global Securities raised Primoris Services Corp. from a “neutral” rating to a “buy” rating and upped their target price for the company from $20.00 to $24.00 in a research report on Thursday, August 25th. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Primoris Services Corp. in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $24.80.
Shares of Primoris Services Corp. (NASDAQ:PRIM) traded down 0.41% during mid-day trading on Thursday, reaching $19.49. The company had a trading volume of 131,471 shares. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 25.68 and a beta of 1.70. The stock has a 50 day moving average of $19.87 and a 200-day moving average of $20.36. Primoris Services Corp. has a 52 week low of $16.13 and a 52 week high of $25.25.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.055 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.13%. Primoris Services Corp.’s payout ratio is 28.95%.
Several hedge funds have recently modified their holdings of PRIM. Teacher Retirement System of Texas increased its stake in shares of Primoris Services Corp. by 20.9% in the second quarter. Teacher Retirement System of Texas now owns 5,770 shares of the company’s stock worth $109,000 after buying an additional 997 shares during the last quarter. First Mercantile Trust Co. increased its stake in shares of Primoris Services Corp. by 24.9% in the second quarter. First Mercantile Trust Co. now owns 6,055 shares of the company’s stock worth $115,000 after buying an additional 1,209 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Primoris Services Corp. during the second quarter worth approximately $198,000. Paloma Partners Management Co bought a new stake in shares of Primoris Services Corp. during the second quarter worth approximately $200,000. Finally, AQR Capital Management LLC bought a new stake in shares of Primoris Services Corp. during the second quarter worth approximately $243,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.
About Primoris Services Corp.
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. It operates in three segments: the West Construction Services segment (West segment), the East Construction Services segment (East segment) and the Energy segment.
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