Primoris Services (NASDAQ:PRIM) Announces Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Primoris Services (NASDAQ:PRIM) posted its earnings results on Sunday. The construction company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.23, MarketWatch Earnings reports. The firm had revenue of $897.34 million for the quarter, compared to analysts’ expectations of $852.93 million. Primoris Services had a net margin of 2.96% and a return on equity of 16.17%. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share.

NASDAQ PRIM traded up $0.87 during trading hours on Tuesday, reaching $34.37. 10,450 shares of the company’s stock traded hands, compared to its average volume of 277,193. Primoris Services has a 52-week low of $9.42 and a 52-week high of $33.74. The firm has a market cap of $1.65 billion, a PE ratio of 16.50 and a beta of 1.32. The firm has a 50-day simple moving average of $30.92 and a 200 day simple moving average of $23.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.43 and a quick ratio of 1.43.

A number of equities analysts have recently commented on the stock. TheStreet upgraded shares of Primoris Services from a “c+” rating to a “b” rating in a report on Friday, November 6th. Zacks Investment Research upgraded shares of Primoris Services from a “hold” rating to a “strong-buy” rating and set a $24.00 price target on the stock in a report on Tuesday, November 10th. Finally, DA Davidson boosted their target price on shares of Primoris Services from $28.00 to $35.00 in a report on Thursday, December 17th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Primoris Services presently has an average rating of “Buy” and an average price target of $26.00.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through five segments: Power, Industrial, and Engineering; Pipeline and Underground; Utilities and Distribution; Transmission and Distribution; and Civil.

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Earnings History for Primoris Services (NASDAQ:PRIM)

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