Primoris Services Corp. (NASDAQ:PRIM) – Research analysts at KeyCorp reduced their FY2016 EPS estimates for Primoris Services Corp. in a research note issued to investors on Tuesday. KeyCorp analyst M. Tucker now forecasts that the brokerage will earn $0.72 per share for the year, down from their previous estimate of $0.73. KeyCorp also issued estimates for Primoris Services Corp.’s Q4 2016 earnings at $0.33 EPS.

Primoris Services Corp. (NASDAQ:PRIM) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.25 by $0.16. Primoris Services Corp. had a net margin of 1.31% and a return on equity of 6.87%. The business earned $507.80 million during the quarter, compared to analysts’ expectations of $536.07 million. During the same period in the previous year, the company posted $0.37 earnings per share. Primoris Services Corp.’s revenue for the quarter was down 8.7% compared to the same quarter last year.

Earnings History and Estimates for Primoris Services Corp. (NASDAQ:PRIM)

Several other equities analysts have also recently commented on the stock. Seaport Global Securities raised shares of Primoris Services Corp. from a “neutral” rating to a “buy” rating and raised their price target for the company from $20.00 to $24.00 in a research report on Thursday, August 25th. Zacks Investment Research raised shares of Primoris Services Corp. from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 6th. Canaccord Genuity reissued a “hold” rating on shares of Primoris Services Corp. in a research report on Wednesday, October 12th. DA Davidson cut shares of Primoris Services Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, August 4th. Finally, Wunderlich raised their price target on shares of Primoris Services Corp. from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $24.60.

Shares of Primoris Services Corp. (NASDAQ:PRIM) opened at 23.20 on Friday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 30.57 and a beta of 1.57. Primoris Services Corp. has a 12-month low of $16.13 and a 12-month high of $25.25. The firm has a 50-day moving average of $20.25 and a 200 day moving average of $19.87.

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

Several large investors have recently added to or reduced their stakes in PRIM. Springbank Value Partners LP boosted its stake in Primoris Services Corp. by 2.4% in the second quarter. Springbank Value Partners LP now owns 129,950 shares of the company’s stock valued at $2,460,000 after buying an additional 3,000 shares during the period. Value Holdings LP boosted its stake in Primoris Services Corp. by 2.4% in the second quarter. Value Holdings LP now owns 340,312 shares of the company’s stock valued at $6,442,000 after buying an additional 7,962 shares during the period. Bank of New York Mellon Corp boosted its stake in Primoris Services Corp. by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 211,771 shares of the company’s stock valued at $4,009,000 after buying an additional 10,586 shares during the period. Capital Fund Management S.A. purchased a new stake in Primoris Services Corp. during the second quarter valued at about $854,000. Finally, CIBC World Markets Inc. boosted its stake in Primoris Services Corp. by 3.2% in the second quarter. CIBC World Markets Inc. now owns 315,076 shares of the company’s stock valued at $5,964,000 after buying an additional 9,800 shares during the period. 74.44% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:PRIM

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