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

Primoris Services (NASDAQ:PRIM) is scheduled to be releasing 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 registering for the company’s conference call can do so using this link.

Primoris Services (NASDAQ:PRIM) last announced its earnings results on Monday, August 5th. The construction company reported $1.04 earnings per share (EPS) 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 business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm posted $0.80 earnings per share. The business’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 Price Performance

Shares of NASDAQ:PRIM opened at $63.59 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $3.41 billion, a PE ratio of 22.39 and a beta of 1.05. The firm’s 50 day moving average price is $58.02 and its 200-day moving average price is $53.64. Primoris Services has a twelve month low of $29.14 and a twelve month high of $64.66.

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.24 annualized dividend and a yield of 0.38%. Primoris Services’s payout ratio is presently 8.45%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PRIM shares. UBS Group upped 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. started coverage on Primoris Services in a research report on Monday, October 7th. They issued an “overweight” rating and a $71.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.00.

Insider Activity 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 19th. The stock was sold at an average price of $59.25, for a total value of $1,481,250.00. Following the completion of the sale, the director now owns 137,281 shares in the company, valued at approximately $8,133,899.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider John M. Perisich sold 4,391 shares of Primoris Services stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $55.33, for a total transaction of $242,954.03. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John P. Schauerman sold 25,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $59.25, for a total transaction of $1,481,250.00. Following the transaction, the director now owns 137,281 shares of the company’s stock, valued at approximately $8,133,899.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,391 shares of company stock worth $3,075,454. 1.40% of the stock is owned by corporate insiders.

About Primoris Services

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.