Primoris Services Corporation (NASDAQ:PRIM) – Stock analysts at DA Davidson lowered their FY2017 earnings estimates for shares of Primoris Services Corporation in a report issued on Wednesday. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings of $1.08 per share for the year, down from their previous forecast of $1.10. DA Davidson also issued estimates for Primoris Services Corporation’s Q4 2017 earnings at $0.18 EPS, Q1 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.35 EPS and FY2019 earnings at $1.55 EPS.

Other analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded shares of Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Saturday, July 15th. Canaccord Genuity raised their target price on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Seaport Global Securities restated a “buy” rating and set a $32.00 target price (up previously from $29.00) on shares of Primoris Services Corporation in a research note on Wednesday, October 11th. Finally, KeyCorp restated a “hold” rating on shares of Primoris Services Corporation in a research note on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $30.00.

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Shares of Primoris Services Corporation (NASDAQ:PRIM) opened at $26.09 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.36 and a current ratio of 1.49. The stock has a market cap of $1,392.72, a PE ratio of 23.14, a PEG ratio of 2.26 and a beta of 1.60. Primoris Services Corporation has a 12 month low of $21.83 and a 12 month high of $30.00.

Primoris Services Corporation (NASDAQ:PRIM) last posted its earnings results on Monday, November 6th. The construction company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.09. The company had revenue of $608.31 million during the quarter, compared to analysts’ expectations of $588.19 million. Primoris Services Corporation had a net margin of 2.68% and a return on equity of 11.70%. Primoris Services Corporation’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS.

A number of large investors have recently added to or reduced their stakes in PRIM. Van Berkom & Associates Inc. increased its position in Primoris Services Corporation by 16.0% during the second quarter. Van Berkom & Associates Inc. now owns 2,370,675 shares of the construction company’s stock worth $59,125,000 after acquiring an additional 327,189 shares during the period. Bar Harbor Trust Services bought a new position in Primoris Services Corporation during the second quarter worth about $4,202,000. Value Holdings Management CO. LLC increased its holdings in Primoris Services Corporation by 37.8% in the 2nd quarter. Value Holdings Management CO. LLC now owns 477,343 shares of the construction company’s stock valued at $11,905,000 after buying an additional 131,031 shares during the period. Vanguard Group Inc. increased its holdings in Primoris Services Corporation by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 3,213,218 shares of the construction company’s stock valued at $74,612,000 after buying an additional 116,098 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Primoris Services Corporation by 242.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 163,130 shares of the construction company’s stock valued at $4,800,000 after buying an additional 115,450 shares during the period. 69.26% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Peter J. Moerbeek sold 19,778 shares of the firm’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $28.99, for a total transaction of $573,364.22. Following the transaction, the chief financial officer now directly owns 43,346 shares of the company’s stock, valued at $1,256,600.54. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian Pratt sold 88,500 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $28.67, for a total transaction of $2,537,295.00. Following the transaction, the director now directly owns 8,659,574 shares in the company, valued at $248,269,986.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,548,356 shares of company stock worth $43,921,202. 24.00% of the stock is owned by insiders.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.92%. This is a positive change from Primoris Services Corporation’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, December 28th. Primoris Services Corporation’s dividend payout ratio (DPR) is currently 17.60%.

Primoris Services Corporation 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. 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.

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

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