Q2 EPS Estimates for Primoris Services Decreased by KeyCorp

Primoris Services Corporation (NYSE:PRIM) – Research analysts at KeyCorp decreased their Q2 2026 earnings estimates for Primoris Services in a note issued to investors on Monday, June 22nd. KeyCorp analyst S. Jain now forecasts that the company will post earnings of $0.03 per share for the quarter, down from their prior estimate of $0.82. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Primoris Services’ current full-year earnings is $2.01 per share. KeyCorp also issued estimates for Primoris Services’ Q3 2026 earnings at $0.92 EPS, Q4 2026 earnings at $0.58 EPS and FY2026 earnings at $2.01 EPS.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS.

Several other research firms also recently weighed in on PRIM. Guggenheim reissued a “buy” rating and set a $162.00 target price on shares of Primoris Services in a research report on Tuesday. UBS Group reduced their target price on Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Wolfe Research reaffirmed an “outperform” rating and set a $149.00 target price on shares of Primoris Services in a report on Monday, June 15th. Wall Street Zen lowered shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Wells Fargo & Company decreased their price target on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Primoris Services has a consensus rating of “Moderate Buy” and an average target price of $144.67.

Primoris Services Trading Up 2.7%

Shares of NYSE:PRIM opened at $95.20 on Friday. Primoris Services has a 1 year low of $65.00 and a 1 year high of $205.50. The firm has a market capitalization of $5.17 billion, a P/E ratio of 20.97 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The business’s 50-day moving average is $126.24 and its 200 day moving average is $137.69.

Primoris Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services’s payout ratio is presently 7.05%.

Insiders Place Their Bets

In other news, insider John M. Perisich sold 29,707 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $127.86, for a total value of $3,798,337.02. Following the completion of the sale, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Lee King sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the transaction, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Primoris Services

A number of institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. purchased a new position in shares of Primoris Services during the 4th quarter worth $33,000. Root Financial Partners LLC boosted its position in shares of Primoris Services by 43.1% during the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after buying an additional 69 shares during the period. Osterweis Capital Management Inc. acquired a new position in Primoris Services during the 2nd quarter worth about $34,000. Cullen Frost Bankers Inc. increased its stake in Primoris Services by 30.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Primoris Services by 34.5% during the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after buying an additional 194 shares in the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Primoris Services

Here are the key news stories impacting Primoris Services this week:

• Positive Sentiment: Goldman Sachs upgraded Primoris from “sell” to “neutral,” suggesting the stock may be closer to fair value after the selloff, even though the firm trimmed its price target to $102. Goldman Sachs upgrade via Benzinga
• Neutral Sentiment: Cantor Fitzgerald also lowered its price target on PRIM to $100 from $124 while keeping a neutral stance, reflecting more cautious expectations but still implying limited upside from recent levels. Cantor Fitzgerald target cut via Benzinga
• Neutral Sentiment: KeyCorp cut FY2027 EPS estimates to $5.09 from $5.87, signaling that analysts are dialing back profit expectations for Primoris after the recent operational issues. KeyCorp estimate cut
• Negative Sentiment: Multiple investor-law-firm investigations were announced, including Pomerantz, Levi & Korsinsky, Kirby McInerney, Glancy Prongay Wolke & Rotter, and Howard G. Smith, all tied to possible securities-law violations and shareholder losses. Pomerantz investigation
• Negative Sentiment: Recent reports say Primoris disclosed additional problems and cost overruns in its renewables projects, and that the company’s COO abruptly departed, reinforcing concerns about execution risk and profitability. Renewables shock and COO departure
• Negative Sentiment: The company’s updated FY2026 EPS guidance of $2.05 to $2.60 appears far below prior expectations, adding to investor worries about earnings momentum and visibility. FY2026 guidance update

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. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.