Analysts Expect Primoris Services Corp (PRIM) to Post $0.01 EPS

Wall Street analysts predict that Primoris Services Corp (NASDAQ:PRIM) will report earnings of $0.01 per share for the current quarter, according to Zacks. Two analysts have made estimates for Primoris Services’ earnings. The highest EPS estimate is $0.02 and the lowest is $0.00. Primoris Services posted earnings per share of $0.15 in the same quarter last year, which indicates a negative year-over-year growth rate of 93.3%. The company is scheduled to issue its next quarterly earnings report on Monday, May 14th.

On average, analysts expect that Primoris Services will report full-year earnings of $1.60 per share for the current fiscal year. For the next fiscal year, analysts expect that the company will report earnings of $1.82 per share, with EPS estimates ranging from $1.76 to $1.87. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Primoris Services.

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Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings results on Tuesday, February 27th. The construction company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $579.02 million for the quarter, compared to the consensus estimate of $558.67 million. Primoris Services had a return on equity of 11.11% and a net margin of 3.04%. Primoris Services’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share.

A number of equities analysts have issued reports on PRIM shares. Zacks Investment Research upgraded Primoris Services from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Friday, March 2nd. Sidoti upgraded Primoris Services from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 28th. DA Davidson upgraded Primoris Services from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 28th. Stephens reiterated a “hold” rating and set a $28.00 price target on shares of Primoris Services in a research report on Tuesday, February 27th. Finally, BidaskClub upgraded Primoris Services from a “sell” rating to a “hold” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Primoris Services currently has a consensus rating of “Buy” and an average target price of $29.50.

Shares of Primoris Services stock traded down $0.59 during mid-day trading on Monday, reaching $26.27. The company’s stock had a trading volume of 184,888 shares, compared to its average volume of 291,190. The stock has a market capitalization of $1,384.13, a P/E ratio of 18.63, a P/E/G ratio of 1.68 and a beta of 1.28. The company has a quick ratio of 1.46, a current ratio of 1.55 and a debt-to-equity ratio of 0.34. Primoris Services has a 52 week low of $21.83 and a 52 week 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 issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.91%. Primoris Services’s payout ratio is currently 17.02%.

In related news, Director Brian Pratt sold 181,638 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $26.02, for a total value of $4,726,220.76. Following the completion of the sale, the director now owns 8,036,941 shares of the company’s stock, valued at $209,121,204.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Peter J. Moerbeek purchased 3,195 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $20.87 per share, with a total value of $66,679.65. Following the acquisition, the chief financial officer now owns 28,863 shares of the company’s stock, valued at approximately $602,370.81. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 16,327 shares of company stock valued at $340,744 and have sold 576,655 shares valued at $15,147,450. 24.00% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of PRIM. Royal Bank of Canada increased its holdings in shares of Primoris Services by 449.9% in the second quarter. Royal Bank of Canada now owns 8,694 shares of the construction company’s stock valued at $217,000 after purchasing an additional 7,113 shares during the last quarter. State Street Corp increased its holdings in shares of Primoris Services by 6.4% in the second quarter. State Street Corp now owns 766,590 shares of the construction company’s stock valued at $19,115,000 after purchasing an additional 45,858 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Primoris Services by 8.2% in the second quarter. Public Employees Retirement System of Ohio now owns 4,238 shares of the construction company’s stock valued at $106,000 after purchasing an additional 320 shares during the last quarter. Stevens Capital Management LP acquired a new stake in shares of Primoris Services in the third quarter valued at approximately $203,000. Finally, American Century Companies Inc. acquired a new stake in Primoris Services during the third quarter worth $842,000. 71.76% of the stock is owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for Primoris Services (NASDAQ:PRIM)

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