Primoris Services (NASDAQ:PRIM - Get Free Report) 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.Individual interested in participating in the company's earnings conference call can do so using this link.
Primoris Services (NASDAQ:PRIM - Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.39. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the business posted $0.80 earnings per share. The company's revenue for the quarter was up 10.6% on a year-over-year basis. 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 Trading Up 4.2 %
Shares of NASDAQ PRIM traded up $2.53 during midday trading on Monday, hitting $63.57. The company's stock had a trading volume of 1,409,330 shares, compared to its average volume of 555,228. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.65. The business's 50 day moving average is $57.25 and its two-hundred day moving average is $53.25. Primoris Services has a 12-month low of $28.96 and a 12-month high of $63.85. The firm has a market cap of $3.41 billion, a P/E ratio of 22.38 and a beta of 1.07.
Primoris Services Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. Primoris Services's payout ratio is 8.45%.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. UBS Group increased their price objective on Primoris Services from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. assumed coverage on Primoris Services in a research note on Monday, October 7th. They issued an "overweight" rating and a $71.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.00.
Read Our Latest Research Report on Primoris Services
Insider Buying and Selling at Primoris Services
In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $54.05, for a total transaction of $1,351,250.00. Following the sale, the director now owns 162,281 shares of the company's stock, valued at approximately $8,771,288.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John P. Schauerman sold 25,000 shares of the firm's stock in a transaction on 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 completion of the sale, the director now owns 162,281 shares of the company's stock, valued at $8,771,288.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John M. Perisich sold 4,391 shares of the firm's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $55.33, for a total value of $242,954.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,391 shares of company stock valued at $3,075,454. 1.30% of the stock is currently owned by corporate insiders.
About Primoris Services
(
Get Free Report)
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.
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