Primoris Services (PRIM) Scheduled to Post Quarterly Earnings on Wednesday

Primoris Services (NASDAQ:PRIM) will announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Primoris Services has set its FY24 guidance at $3.05-3.25 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Primoris Services (NASDAQ:PRIM) last released its earnings results on Monday, February 26th. The construction company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.64 by $0.21. Primoris Services had a net margin of 2.21% and a return on equity of 13.20%. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the company earned $0.93 EPS. Primoris Services’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, analysts expect Primoris Services to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Primoris Services Trading Down 1.9 %

Shares of Primoris Services stock opened at $46.57 on Wednesday. Primoris Services has a fifty-two week low of $23.48 and a fifty-two week high of $47.87. The business’s fifty day moving average is $42.46 and its two-hundred day moving average is $35.99. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.50 billion, a PE ratio of 16.65 and a beta of 1.19.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.24 annualized dividend and a yield of 0.52%. Primoris Services’s dividend payout ratio (DPR) is presently 10.34%.

Insider Transactions at Primoris Services

In related news, Director John P. Schauerman sold 20,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $40.61, for a total transaction of $812,200.00. Following the completion of the sale, the director now directly owns 237,281 shares of the company’s stock, valued at approximately $9,635,981.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director John P. Schauerman sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $40.61, for a total transaction of $812,200.00. Following the transaction, the director now directly owns 237,281 shares of the company’s stock, valued at approximately $9,635,981.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Lee King sold 2,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $40.69, for a total transaction of $101,725.00. Following the completion of the sale, the director now directly owns 29,217 shares of the company’s stock, valued at approximately $1,188,839.73. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $2,040,125 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PRIM. UBS Group upped their price objective on shares of Primoris Services from $44.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, April 5th. The Goldman Sachs Group lifted their price target on shares of Primoris Services from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. DA Davidson upped their price objective on Primoris Services from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, StockNews.com cut Primoris Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th.

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.