Primoris Services Corp (PRIM) Expected to Post Earnings of $0.01 Per Share

Share on StockTwits

Equities analysts expect Primoris Services Corp (NASDAQ:PRIM) to post $0.01 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Primoris Services’ earnings, with the highest EPS estimate coming in at $0.04 and the lowest estimate coming in at ($0.03). Primoris Services also reported earnings of $0.01 per share during the same quarter last year. The business is expected to report its next quarterly earnings report before the market opens on Tuesday, May 14th.

On average, analysts expect that Primoris Services will report full-year earnings of $1.67 per share for the current year, with EPS estimates ranging from $1.63 to $1.70. For the next fiscal year, analysts forecast that the firm will post earnings of $2.34 per share, with EPS estimates ranging from $2.25 to $2.43. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Primoris Services.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Thursday, February 28th. The construction company reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. Primoris Services had a return on equity of 13.91% and a net margin of 2.64%. The company had revenue of $877.67 million during the quarter, compared to the consensus estimate of $838.70 million. During the same quarter in the prior year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year.

PRIM has been the topic of several research analyst reports. Zacks Investment Research raised Primoris Services from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Wednesday, December 19th. BidaskClub raised Primoris Services from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. ValuEngine raised Primoris Services from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Finally, TheStreet lowered Primoris Services from a “b-” rating to a “c+” rating in a research note on Wednesday, December 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $29.33.

In other news, Director Brian Pratt sold 110,182 shares of Primoris Services stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $23.32, for a total transaction of $2,569,444.24. Following the sale, the director now directly owns 2,162,824 shares of the company’s stock, valued at $50,437,055.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 599,274 shares of company stock worth $13,254,452 over the last three months. Insiders own 19.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of PRIM. Oppenheimer Asset Management Inc. bought a new stake in shares of Primoris Services during the fourth quarter valued at approximately $47,000. Quantamental Technologies LLC purchased a new position in Primoris Services in the fourth quarter worth $80,000. Hsbc Holdings PLC purchased a new position in Primoris Services in the fourth quarter worth $201,000. Metropolitan Life Insurance Co. NY boosted its position in Primoris Services by 355.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,068 shares of the construction company’s stock worth $250,000 after purchasing an additional 10,198 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Primoris Services in the third quarter worth $348,000. 78.23% of the stock is currently owned by institutional investors.

PRIM stock traded down $0.22 during trading hours on Monday, hitting $21.52. 56,067 shares of the stock were exchanged, compared to its average volume of 145,832. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 1.49. Primoris Services has a 12 month low of $17.82 and a 12 month high of $28.90. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.30 and a beta of 1.42.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, March 28th. Primoris Services’s payout ratio is 14.12%.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through five segments: Power, Industrial, and Engineering; Pipeline and Underground; Utilities and Distribution; Transmission and Distribution; and Civil.

Recommended Story: Trading Strategy Methods for Individual Investors

Get a free copy of the Zacks research report on Primoris Services (PRIM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Primoris Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primoris Services and related companies with MarketBeat.com's FREE daily email newsletter.