KeyCorp Predicts Primoris Services’ Q2 Earnings (NYSE:PRIM)

Primoris Services Corporation (NYSE:PRIM) – Analysts at KeyCorp cut their Q2 2026 earnings per share (EPS) estimates for shares of Primoris Services in a research note issued on Monday, June 22nd. KeyCorp analyst S. Jain now expects that the company will post earnings of $0.03 per share for the quarter, down from their prior forecast of $0.82. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Primoris Services’ current full-year earnings is $2.01 per share. KeyCorp also issued estimates for Primoris Services’ Q3 2026 earnings at $0.92 EPS, Q4 2026 earnings at $0.58 EPS and FY2026 earnings at $2.01 EPS.

Primoris Services (NYSE:PRIM) last issued its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.28). The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.Primoris Services’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS.

Several other brokerages have also commented on PRIM. Cantor Fitzgerald cut their price target on shares of Primoris Services from $124.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday. Wolfe Research reissued an “outperform” rating and set a $149.00 target price on shares of Primoris Services in a research note on Monday, June 15th. Mizuho decreased their target price on Primoris Services from $135.00 to $117.00 and set an “outperform” rating on the stock in a research report on Tuesday. UBS Group dropped their price target on Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Zacks Research cut shares of Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Primoris Services has an average rating of “Moderate Buy” and a consensus price target of $144.67.

Primoris Services Stock Up 2.7%

PRIM stock opened at $95.20 on Friday. The stock has a market cap of $5.17 billion, a P/E ratio of 20.97 and a beta of 1.36. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services has a twelve month low of $65.00 and a twelve month high of $205.50. The company’s 50 day moving average is $126.24 and its two-hundred day moving average is $137.69.

Institutional Trading of Primoris Services

Institutional investors have recently made changes to their positions in the stock. Harbour Investments Inc. acquired a new stake in Primoris Services during the fourth quarter valued at $33,000. Root Financial Partners LLC increased its holdings in Primoris Services by 43.1% in the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after buying an additional 69 shares during the period. Osterweis Capital Management Inc. bought a new stake in Primoris Services in the second quarter valued at $34,000. Cullen Frost Bankers Inc. boosted its position in Primoris Services by 30.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings 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 last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Primoris Services news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the transaction, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the completion of the transaction, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. This represents a 51.86% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Primoris Services’s dividend payout ratio (DPR) is 7.05%.

Key Primoris Services News

Here are the key news stories impacting Primoris Services this week:

• Positive Sentiment: Goldman Sachs upgraded Primoris from “sell” to “neutral,” suggesting the stock may be closer to fair value after the selloff, even though the firm trimmed its price target to $102. Goldman Sachs upgrade via Benzinga
• Neutral Sentiment: Cantor Fitzgerald also lowered its price target on PRIM to $100 from $124 while keeping a neutral stance, reflecting more cautious expectations but still implying limited upside from recent levels. Cantor Fitzgerald target cut via Benzinga
• Neutral Sentiment: KeyCorp cut FY2027 EPS estimates to $5.09 from $5.87, signaling that analysts are dialing back profit expectations for Primoris after the recent operational issues. KeyCorp estimate cut
• Negative Sentiment: Multiple investor-law-firm investigations were announced, including Pomerantz, Levi & Korsinsky, Kirby McInerney, Glancy Prongay Wolke & Rotter, and Howard G. Smith, all tied to possible securities-law violations and shareholder losses. Pomerantz investigation
• Negative Sentiment: Recent reports say Primoris disclosed additional problems and cost overruns in its renewables projects, and that the company’s COO abruptly departed, reinforcing concerns about execution risk and profitability. Renewables shock and COO departure
• Negative Sentiment: The company’s updated FY2026 EPS guidance of $2.05 to $2.60 appears far below prior expectations, adding to investor worries about earnings momentum and visibility. FY2026 guidance update

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.