Primoris Services (NYSE:PRIM) Posts Quarterly Earnings Results, Misses Estimates By $0.28 EPS

Primoris Services (NYSE:PRIM) issued its quarterly earnings results on Tuesday. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28), FiscalAI reports. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.73 billion. Primoris Services updated its FY 2026 guidance to 4.800-5.000 EPS.

Primoris Services Stock Up 9.5%

NYSE PRIM traded up $17.63 on Tuesday, reaching $203.18. The company had a trading volume of 2,361,024 shares, compared to its average volume of 802,709. The company has a 50 day moving average of $152.12. The company has a market capitalization of $11.02 billion, a PE ratio of 40.39 and a beta of 1.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.26. Primoris Services has a 52 week low of $63.36 and a 52 week high of $205.50.

Primoris Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Tuesday, March 31st. Primoris Services’s dividend payout ratio is currently 6.36%.

Institutional Investors Weigh In On Primoris Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osterweis Capital Management Inc. bought a new stake in shares of Primoris Services in the second quarter worth about $34,000. Public Employees Retirement System of Ohio raised its position in shares of Primoris Services by 31.0% during the third quarter. Public Employees Retirement System of Ohio now owns 634 shares of the company’s stock worth $87,000 after purchasing an additional 150 shares during the period. NewEdge Advisors LLC raised its position in shares of Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after purchasing an additional 194 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Primoris Services by 1,372.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 898 shares of the company’s stock worth $112,000 after purchasing an additional 837 shares during the period. Finally, Castleark Management LLC acquired a new stake in shares of Primoris Services during the fourth quarter worth about $139,000. Institutional investors own 91.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Guggenheim upped their price target on Primoris Services from $184.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. upped their price target on Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. DA Davidson set a $180.00 price objective on Primoris Services in a report on Wednesday, February 25th. Wall Street Zen downgraded Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Cantor Fitzgerald set a $160.00 price objective on Primoris Services and gave the company a “neutral” rating in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $159.25.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.