Primoris Services (NASDAQ:PRIM) posted its quarterly earnings data on Tuesday. The construction company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02, Briefing.com reports. Primoris Services had a return on equity of 11.70% and a net margin of 2.68%. The business had revenue of $579.02 million for the quarter, compared to analysts’ expectations of $558.67 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The business’s revenue was down 3.8% on a year-over-year basis.
Shares of Primoris Services (PRIM) opened at $24.58 on Wednesday. The stock has a market capitalization of $1,260.00, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.75 and a beta of 1.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.41. Primoris Services has a one year low of $21.83 and a one year high of $30.00.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.24 annualized dividend and a dividend yield of 0.98%. Primoris Services’s payout ratio is presently 19.35%.
Several research analysts have weighed in on the company. DA Davidson raised Primoris Services from a “neutral” rating to a “buy” rating in a research report on Wednesday. Stephens set a $28.00 price objective on Primoris Services and gave the stock a “hold” rating in a research report on Tuesday. Zacks Investment Research raised Primoris Services from a “sell” rating to a “hold” rating in a research report on Wednesday, December 13th. Canaccord Genuity reissued a “buy” rating and issued a $30.00 price objective on shares of Primoris Services in a research report on Tuesday, November 7th. Finally, BidaskClub lowered Primoris Services from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $30.75.
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Primoris Services 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. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.
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