Primoris Services Corporation (NASDAQ:PRIM) – Analysts at DA Davidson reduced their Q3 2017 earnings estimates for shares of Primoris Services Corporation in a research report issued to clients and investors on Wednesday. DA Davidson analyst B. Thielman now forecasts that the construction company will post earnings of $0.27 per share for the quarter, down from their previous estimate of $0.32. DA Davidson also issued estimates for Primoris Services Corporation’s Q4 2017 earnings at $0.23 EPS and FY2017 earnings at $1.10 EPS.

A number of other equities research analysts also recently weighed in on the stock. Canaccord Genuity lifted their price target on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. BidaskClub downgraded shares of Primoris Services Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research upgraded shares of Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Saturday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $26.40.

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Primoris Services Corporation (NASDAQ:PRIM) opened at 25.94 on Thursday. Primoris Services Corporation has a 1-year low of $17.21 and a 1-year high of $29.19. The company has a market capitalization of $1.33 billion, a P/E ratio of 42.52 and a beta of 1.58. The firm’s 50-day moving average is $24.88 and its 200-day moving average is $24.13.

Primoris Services Corporation (NASDAQ:PRIM) last announced its earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.11. The business had revenue of $631.20 million during the quarter, compared to the consensus estimate of $582.82 million. Primoris Services Corporation had a net margin of 2.09% and a return on equity of 11.44%. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 14th. Stockholders of record on Friday, September 29th will be paid a $0.055 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.22 annualized dividend and a dividend yield of 0.85%. Primoris Services Corporation’s dividend payout ratio is presently 23.40%.

Several large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Primoris Services Corporation during the fourth quarter valued at approximately $2,569,000. Teachers Advisors LLC increased its stake in shares of Primoris Services Corporation by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 69,645 shares of the construction company’s stock valued at $1,587,000 after buying an additional 2,232 shares in the last quarter. Essex Investment Management Co. LLC increased its stake in shares of Primoris Services Corporation by 25.4% in the first quarter. Essex Investment Management Co. LLC now owns 48,082 shares of the construction company’s stock valued at $1,116,000 after buying an additional 9,732 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Primoris Services Corporation during the first quarter valued at approximately $16,127,000. Finally, Emerald Advisers Inc. PA purchased a new stake in shares of Primoris Services Corporation during the first quarter valued at approximately $20,358,000. Institutional investors own 70.82% of the company’s stock.

About Primoris Services Corporation

Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.

Earnings History and Estimates for Primoris Services Corporation (NASDAQ:PRIM)

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