Primoris Services Corp. (NASDAQ:PRIM) has received an average recommendation of “Hold” from the seven ratings firms that are covering the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $25.00.
Several brokerages recently weighed in on PRIM. DA Davidson downgraded Primoris Services Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, August 4th. Zacks Investment Research downgraded Primoris Services Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Finally, Seaport Global Securities upgraded Primoris Services Corp. from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $24.00 in a research note on Thursday, August 25th.
A number of institutional investors have recently bought and sold shares of PRIM. Teacher Retirement System of Texas boosted its position in Primoris Services Corp. by 20.9% in the second quarter. Teacher Retirement System of Texas now owns 5,770 shares of the company’s stock valued at $109,000 after buying an additional 997 shares during the period. First Mercantile Trust Co. boosted its position in shares of Primoris Services Corp. by 24.9% in the second quarter. First Mercantile Trust Co. now owns 6,055 shares of the company’s stock worth $115,000 after buying an additional 1,209 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Primoris Services Corp. during the second quarter worth about $198,000. Paloma Partners Management Co bought a new position in shares of Primoris Services Corp. during the second quarter worth about $200,000. Finally, AQR Capital Management LLC bought a new position in shares of Primoris Services Corp. during the second quarter worth about $243,000. 74.49% of the stock is owned by hedge funds and other institutional investors.
Shares of Primoris Services Corp. (NASDAQ:PRIM) traded up 0.15% on Monday, reaching $20.62. The company’s stock had a trading volume of 76,341 shares. The stock has a 50-day moving average of $19.68 and a 200 day moving average of $20.46. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 27.17 and a beta of 1.69. Primoris Services Corp. has a 52 week low of $16.13 and a 52 week high of $25.25.
Primoris Services Corp. (NASDAQ:PRIM) last announced its earnings results on Thursday, August 4th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.22 by $0.12. Primoris Services Corp. had a net margin of 2.03% and a return on equity of 8.14%. The business had revenue of $456.81 million for the quarter, compared to the consensus estimate of $516.76 million. During the same quarter in the previous year, the company earned $0.07 EPS. Primoris Services Corp.’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, analysts expect that Primoris Services Corp. will post $0.75 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.055 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.22 annualized dividend and a yield of 1.07%. Primoris Services Corp.’s dividend payout ratio (DPR) is 28.95%.
Primoris Services Corp. Company Profile
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. It operates in three segments: the West Construction Services segment (West segment), the East Construction Services segment (East segment) and the Energy segment.
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