Primoris Services Co. (PRIM) to Issue Quarterly Dividend of $0.08 on January 15th

Primoris Services Co. (NASDAQ:PRIM) declared a quarterly dividend on Monday, November 3rd. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.08 per share by the construction company on Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Wednesday, December 31st.

Primoris Services has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Primoris Services has a dividend payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Primoris Services to earn $4.05 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.9%.

Primoris Services Trading Down 10.8%

Shares of PRIM stock opened at $127.85 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $6.91 billion, a PE ratio of 42.34 and a beta of 1.43. The stock has a fifty day moving average of $130.91 and a two-hundred day moving average of $99.67. Primoris Services has a 1 year low of $49.10 and a 1 year high of $146.16.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings data on Monday, November 3rd. The construction company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.51. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $1.83 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The company’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 earnings per share. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. As a group, research analysts expect that Primoris Services will post 3.26 EPS for the current year.

About Primoris Services

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.