News headlines about Primoris Services Corp (NASDAQ:PRIM) have trended somewhat positive this week, AlphaOne Sentiment reports. AlphaOne, a subsidiary of Accern, identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. AlphaOne ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Primoris Services Corp earned a daily sentiment score of 0.16 on AlphaOne’s scale. AlphaOne also assigned media stories about the construction company an impact score of 90 out of 100, indicating that recent press coverage is very likely to have an impact on the stock’s share price in the near term.
These are some of the media stories that may have impacted AlphaOne’s scoring:
- Q1 2017 Earnings Forecast for Primoris Services Corp (PRIM) Issued By Seaport Global Securities (americanbankingnews.com)
- Primoris Services Corporation Schedules Conference Call to Discuss 2017 First Quarter Financial Results (finance.yahoo.com)
- Primoris Services Corp Expected to Post Q2 2017 Earnings of $0.34 Per Share (PRIM) (americanbankingnews.com)
- Uptown’s Union project lands engineering firm HQ (dallasnews.com)
- The Union snags this Dallas-based engineering firm’s corporate office (bizjournals.com)
PRIM has been the subject of several recent analyst reports. Canaccord Genuity raised Primoris Services Corp from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Friday, January 27th. Stephens initiated coverage on Primoris Services Corp in a research report on Tuesday, February 7th. They issued an “equal weight” rating for the company. Zacks Investment Research raised Primoris Services Corp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 11th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Primoris Services Corp in a research report on Monday, February 27th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Primoris Services Corp has a consensus rating of “Hold” and a consensus target price of $24.80.
Primoris Services Corp (NASDAQ:PRIM) traded down 1.18% during mid-day trading on Friday, reaching $22.61. The company had a trading volume of 225,720 shares. The stock has a market cap of $1.17 billion, a PE ratio of 44.33 and a beta of 1.65. Primoris Services Corp has a 12 month low of $16.13 and a 12 month high of $29.19. The firm’s 50-day moving average price is $23.55 and its 200-day moving average price is $23.01.
Primoris Services Corp (NASDAQ:PRIM) last issued its earnings results on Tuesday, February 28th. The construction company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.03. Primoris Services Corp had a net margin of 1.31% and a return on equity of 6.87%. The firm earned $601.90 million during the quarter, compared to analyst estimates of $542.42 million. During the same quarter last year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Equities research analysts forecast that Primoris Services Corp will post $1.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, April 15th. Investors of record on Friday, March 31st were paid a $0.055 dividend. The ex-dividend date was Wednesday, March 29th. This represents a $0.22 annualized dividend and a yield of 0.97%. Primoris Services Corp’s dividend payout ratio (DPR) is currently 45.83%.
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About Primoris Services Corp
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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