Equities research analysts expect Primoris Services Co. (NASDAQ:PRIM – Get Rating) to report sales of $941.80 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Primoris Services’ earnings. The lowest sales estimate is $929.80 million and the highest is $953.80 million. Primoris Services reported sales of $881.61 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.8%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Primoris Services will report full-year sales of $3.79 billion for the current year, with estimates ranging from $3.72 billion to $3.86 billion. For the next year, analysts expect that the business will report sales of $4.02 billion, with estimates ranging from $3.93 billion to $4.10 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Primoris Services.
Primoris Services (NASDAQ:PRIM – Get Rating) last released its quarterly earnings results on Monday, May 9th. The construction company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.09). The firm had revenue of $784.38 million for the quarter, compared to analyst estimates of $799.18 million. Primoris Services had a return on equity of 12.33% and a net margin of 3.12%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS.
In related news, Director David Lee King sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $26.51, for a total transaction of $530,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley lifted its holdings in Primoris Services by 17.4% in the 2nd quarter. Morgan Stanley now owns 215,043 shares of the construction company’s stock worth $6,328,000 after buying an additional 31,841 shares in the last quarter. Citigroup Inc. increased its stake in Primoris Services by 28.8% during the third quarter. Citigroup Inc. now owns 23,718 shares of the construction company’s stock valued at $581,000 after purchasing an additional 5,307 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Primoris Services by 29.0% in the third quarter. Goldman Sachs Group Inc. now owns 527,437 shares of the construction company’s stock worth $12,916,000 after acquiring an additional 118,603 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Primoris Services by 3.0% during the third quarter. Geode Capital Management LLC now owns 977,607 shares of the construction company’s stock valued at $23,941,000 after purchasing an additional 28,522 shares during the last quarter. Finally, Credit Suisse AG raised its position in shares of Primoris Services by 8.5% during the 3rd quarter. Credit Suisse AG now owns 64,702 shares of the construction company’s stock worth $1,585,000 after purchasing an additional 5,055 shares during the period. Institutional investors own 88.35% of the company’s stock.
PRIM stock opened at $25.03 on Thursday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 12.58 and a beta of 1.07. The company has a fifty day moving average price of $24.48 and a 200 day moving average price of $24.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.44 and a quick ratio of 1.44. Primoris Services has a 12 month low of $21.47 and a 12 month high of $34.02.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be issued a $0.06 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.96%. Primoris Services’s dividend payout ratio (DPR) is 12.06%.
Primoris Services Company Profile (Get Rating)
Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. 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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