Primoris Services Corp. (NASDAQ:PRIM) had its price target lifted by research analysts at Wunderlich from $23.00 to $25.00 in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the stock. Wunderlich’s price objective would indicate a potential upside of 8.08% from the company’s previous close.

Several other equities research analysts also recently weighed in on PRIM. DA Davidson downgraded Primoris Services Corp. from a “buy” rating to a “neutral” rating in a report on Thursday, August 4th. Zacks Investment Research downgraded Primoris Services Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Canaccord Genuity reaffirmed a “hold” rating on shares of Primoris Services Corp. in a report on Wednesday, October 12th. Finally, Seaport Global Securities raised Primoris Services Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $20.00 to $24.00 in a report on Thursday, August 25th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Primoris Services Corp. has a consensus rating of “Hold” and an average target price of $24.60.

Analyst Recommendations for Primoris Services Corp. (NASDAQ:PRIM)

Primoris Services Corp. (NASDAQ:PRIM) opened at 23.13 on Wednesday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 30.47 and a beta of 1.57. The stock’s 50 day moving average is $20.18 and its 200 day moving average is $19.87. Primoris Services Corp. has a 12-month low of $16.13 and a 12-month high of $25.25.

Primoris Services Corp. (NASDAQ:PRIM) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.16. Primoris Services Corp. had a return on equity of 6.87% and a net margin of 1.31%. The company had revenue of $507.80 million for the quarter, compared to analyst estimates of $536.07 million. During the same period in the prior year, the business earned $0.37 earnings per share. Primoris Services Corp.’s revenue for the quarter was down 8.7% compared to the same quarter last year. Equities research analysts forecast that Primoris Services Corp. will post $0.74 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 16th. Investors of record on Saturday, December 31st will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, December 28th. Primoris Services Corp.’s dividend payout ratio is presently 45.83%.

A number of hedge funds have recently bought and sold shares of the company. LaSalle Street Capital Management LLC boosted its stake in Primoris Services Corp. by 1.7% in the second quarter. LaSalle Street Capital Management LLC now owns 19,791 shares of the company’s stock worth $375,000 after buying an additional 327 shares in the last quarter. Anchor Capital Advisors LLC boosted its stake in Primoris Services Corp. by 0.7% in the second quarter. Anchor Capital Advisors LLC now owns 47,903 shares of the company’s stock worth $907,000 after buying an additional 346 shares in the last quarter. American International Group Inc. boosted its stake in Primoris Services Corp. by 2.0% in the second quarter. American International Group Inc. now owns 23,178 shares of the company’s stock worth $439,000 after buying an additional 457 shares in the last quarter. California State Teachers Retirement System boosted its stake in Primoris Services Corp. by 0.9% in the third quarter. California State Teachers Retirement System now owns 85,225 shares of the company’s stock worth $1,756,000 after buying an additional 800 shares in the last quarter. Finally, BlackRock Advisors LLC boosted its stake in Primoris Services Corp. by 5.1% in the second quarter. BlackRock Advisors LLC now owns 18,889 shares of the company’s stock worth $358,000 after buying an additional 915 shares in the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.

Primoris Services Corp. 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. It operates in three segments: the West Construction Services segment (West segment), the East Construction Services segment (East segment) and the Energy segment.

5 Day Chart for NASDAQ:PRIM

Receive News & Stock Ratings for Primoris Services Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primoris Services Corp. and related stocks with our FREE daily email newsletter.