Primoris Services (NYSE:PRIM) Posts Earnings Results, Beats Expectations By $0.56 EPS

Primoris Services (NYSE:PRIM) released its earnings results on Monday. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.56, Zacks reports. Primoris Services had a return on equity of 18.33% and a net margin of 3.48%.

Primoris Services Stock Performance

Primoris Services stock traded up $1.70 on Monday, hitting $143.22. 1,116,480 shares of the stock traded hands, compared to its average volume of 903,437. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $7.74 billion, a P/E ratio of 32.48, a P/E/G ratio of 2.25 and a beta of 1.45. Primoris Services has a 1 year low of $49.10 and a 1 year high of $146.16.

Analyst Ratings Changes

PRIM has been the topic of a number of recent analyst reports. Needham & Company LLC upgraded Primoris Services to a “moderate buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings initiated coverage on Primoris Services in a research report on Thursday, October 23rd. They set a “buy (b)” rating on the stock. Finally, Wall Street Zen upgraded Primoris Services from a “buy” rating to a “strong-buy” rating in a research report on Friday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Primoris Services has a consensus rating of “Buy”.

About Primoris Services

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.