Primoris Services (PRIM) Projected to Post Earnings on Monday

Primoris Services (NASDAQ:PRIM) is projected to issue its results after the market closes on Monday, November 3rd. Analysts expect the company to announce earnings of $1.37 per share and revenue of $1.8317 billion for the quarter. Primoris Services has set its FY 2025 guidance at 4.900-5.100 EPS.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Monday, August 4th. The construction company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.58. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the company earned $1.04 EPS. The firm’s quarterly revenue was up 20.9% 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

PRIM opened at $142.45 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services has a 12 month low of $49.10 and a 12 month high of $143.94. The company has a fifty day simple moving average of $127.13 and a 200 day simple moving average of $95.31. The stock has a market cap of $7.69 billion, a P/E ratio of 47.17 and a beta of 1.43.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.08 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Primoris Services’s dividend payout ratio is currently 7.26%.

Insider Transactions at Primoris Services

In other news, Director John P. Schauerman sold 20,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $114.01, for a total transaction of $2,280,200.00. Following the completion of the transaction, the director directly owned 82,281 shares in the company, valued at $9,380,856.81. This represents a 19.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael E. Ching sold 2,935 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $119.89, for a total transaction of $351,877.15. Following the transaction, the director owned 9,534 shares of the company’s stock, valued at approximately $1,143,031.26. This represents a 23.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,941 shares of company stock worth $3,004,821 in the last three months. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Primoris Services

A number of large investors have recently modified their holdings of the business. NewEdge Advisors LLC boosted its stake in shares of Primoris Services by 34.5% during the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock worth $43,000 after buying an additional 194 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Primoris Services by 0.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 119,101 shares of the construction company’s stock valued at $9,283,000 after purchasing an additional 334 shares during the last quarter. Osterweis Capital Management Inc. acquired a new stake in Primoris Services in the 2nd quarter valued at about $34,000. Rithm Capital Corp. lifted its stake in Primoris Services by 10.4% in the 2nd quarter. Rithm Capital Corp. now owns 12,700 shares of the construction company’s stock valued at $990,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in Primoris Services in the 2nd quarter valued at about $102,000. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on PRIM shares. KeyCorp upped their price objective on shares of Primoris Services from $129.00 to $154.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. UBS Group increased their target price on Primoris Services from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Needham & Company LLC began coverage on Primoris Services in a report on Wednesday, October 22nd. They set a “buy” rating and a $175.00 target price for the company. DA Davidson increased their target price on Primoris Services from $85.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Roth Capital began coverage on Primoris Services in a report on Thursday, October 9th. They set a “buy” rating and a $170.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Primoris Services presently has an average rating of “Moderate Buy” and a consensus price target of $133.92.

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.