Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Primoris Services Corporation (PRIM) Share Price
News articles about Primoris Services Corporation (NASDAQ:PRIM) have been trending somewhat positive this week, Accern Sentiment reports. Accern rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Primoris Services Corporation earned a media sentiment score of 0.18 on Accern’s scale. Accern also assigned news articles about the construction company an impact score of 46.1414198399308 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the news articles that may have effected Accern Sentiment’s analysis:
- Renewable energy generates enough power to run 70% of Australian homes (currenthollywood.com)
- Primoris Services Corporation (NASDAQ:PRIM) Traded Over Its 50 Day Moving Average (highlightpress.com)
- Primoris Services (PRIM) Secures $22M Investment to Build, Own & Operate Solar Power Systems for a California School District (streetinsider.com)
- Primoris Services Corporation Announces Solar Investment and Renewable EPC Awards (finance.yahoo.com)
A number of equities analysts recently weighed in on the stock. TheStreet upgraded shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a research report on Friday, August 11th. Zacks Investment Research lowered shares of Primoris Services Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. BidaskClub upgraded shares of Primoris Services Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Canaccord Genuity boosted their price target on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $27.00.
Shares of Primoris Services Corporation (NASDAQ PRIM) traded up 0.11% during trading on Wednesday, reaching $28.42. 214,318 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $25.46 and a 200-day moving average price of $24.31. Primoris Services Corporation has a 52 week low of $18.51 and a 52 week high of $29.19. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 30.92 and a beta of 1.58.
Primoris Services Corporation (NASDAQ:PRIM) last released its earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.11. Primoris Services Corporation had a return on equity of 11.30% and a net margin of 2.09%. The company had revenue of $631.20 million for the quarter, compared to analysts’ expectations of $582.82 million. During the same quarter in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. Analysts predict that Primoris Services Corporation will post $1.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 14th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.055 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.22 annualized dividend and a yield of 0.77%. Primoris Services Corporation’s dividend payout ratio (DPR) is presently 23.40%.
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About Primoris Services Corporation
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.
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