Brokerages Expect Primoris Services Corp (PRIM) to Post $0.63 Earnings Per Share
Equities research analysts forecast that Primoris Services Corp (NASDAQ:PRIM) will report earnings of $0.63 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Primoris Services’ earnings. Primoris Services posted earnings of $0.25 per share during the same quarter last year, which suggests a positive year over year growth rate of 152%. The company is expected to report its next quarterly earnings results on Monday, February 25th.
According to Zacks, analysts expect that Primoris Services will report full-year earnings of $1.50 per share for the current fiscal year. For the next financial year, analysts expect that the business will report earnings of $2.10 per share, with EPS estimates ranging from $2.04 to $2.15. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Primoris Services.
Primoris Services (NASDAQ:PRIM) last issued its earnings results on Tuesday, November 6th. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. Primoris Services had a return on equity of 10.84% and a net margin of 2.56%. The firm had revenue of $908.90 million for the quarter, compared to analysts’ expectations of $789.90 million. During the same quarter last year, the business earned $0.40 earnings per share. The company’s revenue was up 49.4% compared to the same quarter last year.
In other news, Director Brian Pratt sold 725,003 shares of Primoris Services stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $25.14, for a total transaction of $18,226,575.42. Following the transaction, the director now owns 6,946,451 shares in the company, valued at approximately $174,633,778.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen C. Cook sold 1,964 shares of Primoris Services stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $25.00, for a total value of $49,100.00. Following the transaction, the director now owns 11,897 shares in the company, valued at approximately $297,425. The disclosure for this sale can be found here. Insiders have sold a total of 734,833 shares of company stock worth $18,475,786 in the last quarter. 19.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its position in Primoris Services by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 14,857 shares of the construction company’s stock valued at $405,000 after buying an additional 2,038 shares during the last quarter. Global X Management Co LLC raised its position in Primoris Services by 19.1% in the 2nd quarter. Global X Management Co LLC now owns 13,194 shares of the construction company’s stock valued at $359,000 after buying an additional 2,114 shares during the last quarter. CIBC World Markets Inc. raised its position in Primoris Services by 0.9% in the 2nd quarter. CIBC World Markets Inc. now owns 319,436 shares of the construction company’s stock valued at $8,698,000 after buying an additional 2,760 shares during the last quarter. Quantbot Technologies LP raised its position in Primoris Services by 161.5% in the 3rd quarter. Quantbot Technologies LP now owns 4,522 shares of the construction company’s stock valued at $112,000 after buying an additional 2,793 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Primoris Services by 17.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 22,397 shares of the construction company’s stock valued at $556,000 after buying an additional 3,254 shares during the last quarter. 77.42% of the stock is currently owned by institutional investors and hedge funds.
PRIM traded down $1.24 during midday trading on Wednesday, reaching $23.52. 241,677 shares of the company were exchanged, compared to its average volume of 171,632. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52. Primoris Services has a one year low of $20.79 and a one year high of $28.90. The stock has a market cap of $1.24 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, December 28th. Primoris Services’s dividend payout ratio (DPR) is presently 20.87%.
Primoris Services Company Profile
Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services in the United States and internationally. It operates through Power, Pipeline, Utilities, and Civil segments.
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