Primoris Services (PRIM) Set to Announce Earnings on Monday

by · The Markets Daily

Primoris Services (NASDAQ:PRIM – Get Free Report) is scheduled to be releasing its earnings data after the market closes on Monday, November 4th. Analysts expect Primoris Services to post earnings of $0.95 per share for the quarter. Primoris Services has set its FY24 guidance at $3.25-3.45 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Primoris Services (NASDAQ:PRIM – Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.39. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the firm posted $0.80 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts expect Primoris Services to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Primoris Services Price Performance

PRIM stock opened at $61.03 on Monday. The stock has a 50-day simple moving average of $57.07 and a 200-day simple moving average of $53.13. The firm has a market cap of $3.27 billion, a P/E ratio of 23.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.41 and a current ratio of 1.41. Primoris Services has a 1 year low of $28.96 and a 1 year high of $63.85.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. Primoris Services’s dividend payout ratio is currently 9.06%.

Insider Activity

In related news, Director John P. Schauerman sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $54.05, for a total value of $1,351,250.00. Following the completion of the sale, the director now directly owns 162,281 shares of the company’s stock, valued at $8,771,288.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider John M. Perisich sold 4,391 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $55.33, for a total transaction of $242,954.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John P. Schauerman sold 25,000 shares of Primoris Services stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $54.05, for a total transaction of $1,351,250.00. Following the completion of the transaction, the director now directly owns 162,281 shares of the company’s stock, valued at approximately $8,771,288.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,391 shares of company stock worth $3,075,454. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PRIM shares. JPMorgan Chase & Co. assumed coverage on shares of Primoris Services in a research note on Monday, October 7th. They issued an “overweight” rating and a $71.00 target price for the company. UBS Group increased their price target on Primoris Services from $69.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

View Our Latest Stock Report on PRIM

About Primoris Services

(Get Free Report)

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. 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.

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