Primoris Services Corp (NASDAQ:PRIM) – KeyCorp issued their Q2 2018 earnings per share (EPS) estimates for Primoris Services in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. KeyCorp analyst T. Afzal expects that the construction company will post earnings per share of $0.39 for the quarter. KeyCorp also issued estimates for Primoris Services’ Q3 2018 earnings at $0.62 EPS and FY2020 earnings at $2.00 EPS.
PRIM has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Primoris Services from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Friday, March 2nd. DA Davidson upgraded shares of Primoris Services from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 28th. BidaskClub upgraded shares of Primoris Services from a “sell” rating to a “hold” rating in a research report on Friday, March 16th. Sidoti upgraded shares of Primoris Services from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 28th. Finally, Stephens restated a “hold” rating and issued a $28.00 target price on shares of Primoris Services in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Primoris Services currently has a consensus rating of “Buy” and an average price target of $29.50.
Shares of Primoris Services stock traded down $0.51 during trading on Thursday, reaching $24.65. 231,656 shares of the company’s stock were exchanged, compared to its average volume of 283,212. Primoris Services has a 1 year low of $21.83 and a 1 year high of $30.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.55 and a quick ratio of 1.46. The firm has a market capitalization of $1,346.51, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.63 and a beta of 1.28.
Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings results on Tuesday, February 27th. The construction company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The business had revenue of $579.02 million for the quarter, compared to analyst estimates of $558.67 million. Primoris Services had a net margin of 3.04% and a return on equity of 11.11%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Wednesday, March 28th. Primoris Services’s payout ratio is currently 17.02%.
In other Primoris Services news, CEO David Lee King purchased 7,866 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was purchased at an average price of $20.87 per share, with a total value of $164,163.42. Following the completion of the purchase, the chief executive officer now owns 14,108 shares of the company’s stock, valued at $294,433.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brian Pratt sold 181,638 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $26.02, for a total transaction of $4,726,220.76. Following the transaction, the director now directly owns 8,036,941 shares of the company’s stock, valued at approximately $209,121,204.82. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 16,327 shares of company stock valued at $340,744 and have sold 522,675 shares valued at $13,636,726. 24.00% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its stake in Primoris Services by 8.2% during the second quarter. Public Employees Retirement System of Ohio now owns 4,238 shares of the construction company’s stock worth $106,000 after buying an additional 320 shares during the last quarter. First Quadrant L P CA raised its stake in Primoris Services by 109.4% during the third quarter. First Quadrant L P CA now owns 4,356 shares of the construction company’s stock worth $128,000 after buying an additional 2,276 shares during the last quarter. SG Americas Securities LLC bought a new position in Primoris Services during the third quarter worth $152,000. Great West Life Assurance Co. Can raised its stake in Primoris Services by 159.1% during the third quarter. Great West Life Assurance Co. Can now owns 5,985 shares of the construction company’s stock worth $175,000 after buying an additional 3,675 shares during the last quarter. Finally, Stevens Capital Management LP bought a new position in Primoris Services during the third quarter worth $203,000. 71.76% of the stock is owned by hedge funds and other institutional investors.
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Primoris Services Company Profile
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.
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