Primoris Services (PRIM) Expected to Announce Earnings on Monday

Primoris Services (NASDAQ:PRIM) will likely be releasing its earnings data after the market closes on Monday, August 4th. Analysts expect Primoris Services to post earnings of $1.10 per share and revenue of $1.69 billion for the quarter. Primoris Services has set its FY 2025 guidance at 4.200-4.400 EPS.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings data on Monday, May 5th. The construction company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.28. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. 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 Down 3.3%

NASDAQ:PRIM opened at $91.10 on Friday. Primoris Services has a 1 year low of $45.92 and a 1 year high of $96.16. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 30.17 and a beta of 1.37. The stock has a 50-day moving average price of $80.83 and a two-hundred day moving average price of $72.31.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 30th. Primoris Services’s payout ratio is presently 8.47%.

Analysts Set New Price Targets

A number of research firms have issued reports on PRIM. JPMorgan Chase & Co. boosted their target price on Primoris Services from $90.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Janney Montgomery Scott began coverage on Primoris Services in a research note on Thursday, July 3rd. They issued a “buy” rating and a $102.00 target price for the company. Guggenheim reissued a “buy” rating and issued a $110.00 target price on shares of Primoris Services in a research note on Thursday, July 17th. KeyCorp boosted their target price on Primoris Services from $79.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Finally, Piper Sandler upped their price objective on Primoris Services from $75.00 to $76.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.56.

Insider Transactions at Primoris Services

In other Primoris Services news, Director John P. Schauerman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $77.37, for a total value of $1,160,550.00. Following the sale, the director owned 102,281 shares in the company, valued at $7,913,480.97. This represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Primoris Services

Large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its position in Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock worth $43,000 after buying an additional 194 shares in the last quarter. Caxton Associates LLP acquired a new stake in Primoris Services during the first quarter worth approximately $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Primoris Services by 25.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the construction company’s stock worth $9,650,000 after buying an additional 33,818 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Primoris Services by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the construction company’s stock worth $28,337,000 after buying an additional 33,934 shares in the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

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.