Primoris Services (PRIM) Set to Announce Quarterly Earnings on Monday

Primoris Services (NASDAQ:PRIM) is set to release its earnings data 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.Parties interested in participating in the company’s conference call can do so using this link.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.65 by $0.39. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 earnings per share. 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 Stock Performance

Shares of Primoris Services stock opened at $63.61 on Friday. The firm’s fifty day simple moving average is $57.86 and its 200-day simple moving average is $53.51. Primoris Services has a 12 month low of $29.14 and a 12 month high of $64.66. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 22.40 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.41.

Primoris Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, September 27th. Primoris Services’s payout ratio is currently 8.45%.

Insider Activity at Primoris Services

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 transaction of $1,351,250.00. Following the sale, the director now owns 162,281 shares in the company, valued at $8,771,288.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider John M. Perisich sold 4,391 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $55.33, for a total value of $242,954.03. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John P. Schauerman sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $54.05, for a total transaction of $1,351,250.00. Following the completion of the transaction, the director now directly owns 162,281 shares in the company, valued at approximately $8,771,288.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,391 shares of company stock valued at $3,075,454. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on PRIM. UBS Group upped their price objective on shares of Primoris Services from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. initiated coverage on shares of Primoris Services in a research report on Monday, October 7th. They issued an “overweight” rating and a $71.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Primoris Services presently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

Primoris Services Company Profile

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.