Primoris Services (PRIM) to Release Quarterly Earnings on Monday

Primoris Services (NASDAQ:PRIM) is scheduled to be posting its quarterly earnings results after the market closes on Monday, November 4th. Analysts expect Primoris Services to post earnings of $0.95 per share for the quarter. Primoris Services has set its FY24 guidance at $3.25-3.45 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.39. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. On average, analysts expect Primoris Services to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Primoris Services Stock Performance

PRIM stock opened at $61.03 on Monday. The company has a 50-day simple moving average of $57.07 and a 200 day simple moving average of $53.13. The company has a market capitalization of $3.27 billion, a P/E ratio of 23.03 and a beta of 1.07. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. Primoris Services has a fifty-two week low of $28.96 and a fifty-two week high of $63.85.

Primoris Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Friday, September 27th. Primoris Services’s dividend payout ratio is currently 9.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. started coverage on Primoris Services in a research report on Monday, October 7th. They set an “overweight” rating and a $71.00 price target on the stock. UBS Group lifted their target price on Primoris Services from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.00.

Insider Transactions at Primoris Services

In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $54.05, for a total value of $1,351,250.00. Following the completion of the transaction, the director now directly owns 162,281 shares in the company, valued at $8,771,288.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider John M. Perisich sold 4,391 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $55.33, for a total transaction of $242,954.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John P. Schauerman sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $54.05, for a total value of $1,351,250.00. Following the sale, the director now owns 162,281 shares of the company’s stock, valued at $8,771,288.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,391 shares of company stock valued at $3,075,454 over the last three months. Company insiders own 1.40% of the company’s stock.

Primoris Services Company Profile

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.