Wall Street analysts expect that Primoris Services Corporation (NASDAQ:PRIM) will report $0.31 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Primoris Services Corporation’s earnings. The highest EPS estimate is $0.34 and the lowest is $0.27. Primoris Services Corporation reported earnings per share of $0.26 in the same quarter last year, which suggests a positive year-over-year growth rate of 19.2%. The company is scheduled to announce its next earnings results on Tuesday, November 14th.

On average, analysts expect that Primoris Services Corporation will report full year earnings of $1.19 per share for the current fiscal year, with EPS estimates ranging from $1.10 to $1.26. For the next year, analysts forecast that the firm will report earnings of $1.49 per share, with EPS estimates ranging from $1.37 to $1.55. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Primoris Services Corporation.

Primoris Services Corporation (NASDAQ:PRIM) last posted its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.42 EPS for the quarter, beating the 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 firm had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $582.82 million. During the same quarter last year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 38.2% on a year-over-year basis.

Several research analysts have weighed in on PRIM shares. BidaskClub upgraded Primoris Services Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Zacks Investment Research upgraded Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Saturday, July 15th. Canaccord Genuity increased their price target on Primoris Services Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. TheStreet raised shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a research report on Friday, August 11th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Primoris Services Corporation in a research report on Tuesday, September 19th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Primoris Services Corporation presently has an average rating of “Hold” and an average target price of $27.00.

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Shares of Primoris Services Corporation (PRIM) opened at 29.03 on Wednesday. Primoris Services Corporation has a 1-year low of $18.71 and a 1-year high of $30.00. The firm’s 50-day moving average price is $28.46 and its 200 day moving average price is $25.25. The firm has a market cap of $1.49 billion, a PE ratio of 31.59 and a beta of 1.55.

The business 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. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, September 28th. Primoris Services Corporation’s dividend payout ratio (DPR) is currently 23.40%.

In other Primoris Services Corporation news, Director Brian Pratt sold 311,933 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $28.08, for a total value of $8,759,078.64. Following the completion of the transaction, the director now directly owns 9,646,585 shares of the company’s stock, valued at $270,876,106.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Peter J. Moerbeek sold 19,778 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $28.99, for a total transaction of $573,364.22. Following the completion of the transaction, the chief financial officer now directly owns 43,346 shares of the company’s stock, valued at $1,256,600.54. The disclosure for this sale can be found here. Insiders have sold a total of 1,548,356 shares of company stock worth $43,921,202 in the last 90 days. 24.00% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its stake in Primoris Services Corporation by 8.2% in the second quarter. Public Employees Retirement System of Ohio now owns 4,238 shares of the construction company’s stock valued at $106,000 after purchasing an additional 320 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Primoris Services Corporation by 13.0% in the first quarter. Victory Capital Management Inc. now owns 5,168 shares of the construction company’s stock valued at $120,000 after buying an additional 595 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Primoris Services Corporation by 554.1% in the second quarter. BNP Paribas Arbitrage SA now owns 5,573 shares of the construction company’s stock valued at $139,000 after buying an additional 4,721 shares during the period. Citigroup Inc. boosted its holdings in shares of Primoris Services Corporation by 356.6% in the second quarter. Citigroup Inc. now owns 6,465 shares of the construction company’s stock valued at $161,000 after buying an additional 5,049 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Primoris Services Corporation by 2,368.0% in the second quarter. JPMorgan Chase & Co. now owns 7,404 shares of the construction company’s stock valued at $184,000 after buying an additional 7,104 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

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

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