Shares of Primoris Services Corp (NASDAQ:PRIM) have been given an average recommendation of “Hold” by the nine ratings firms that are covering the company. Six analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $25.50.
Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Primoris Services Corp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 11th. Canaccord Genuity reaffirmed a “buy” rating and set a $28.00 price target on shares of Primoris Services Corp in a research report on Friday, February 24th. DA Davidson reaffirmed a “neutral” rating on shares of Primoris Services Corp in a research report on Monday, February 27th. Finally, Stephens started coverage on shares of Primoris Services Corp in a research report on Tuesday, February 7th. They set an “equal weight” rating for the company.
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Primoris Services Corp (NASDAQ:PRIM) last announced its quarterly earnings data on Tuesday, February 28th. The construction company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.03. The firm had revenue of $601.90 million for the quarter, compared to analysts’ expectations of $542.42 million. Primoris Services Corp had a net margin of 1.31% and a return on equity of 6.87%. The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. Equities analysts predict that Primoris Services Corp will post $1.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, April 15th. Stockholders of record on Friday, March 31st were given a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Wednesday, March 29th. Primoris Services Corp’s payout ratio is currently 45.83%.
Several large investors have recently added to or reduced their stakes in PRIM. Van Berkom & Associates Inc. boosted its stake in shares of Primoris Services Corp by 13.7% in the third quarter. Van Berkom & Associates Inc. now owns 2,528,212 shares of the construction company’s stock valued at $52,081,000 after buying an additional 304,235 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of Primoris Services Corp by 177.8% in the third quarter. Deprince Race & Zollo Inc. now owns 2,298,753 shares of the construction company’s stock valued at $47,354,000 after buying an additional 1,471,179 shares in the last quarter. Palisade Capital Management LLC NJ boosted its stake in shares of Primoris Services Corp by 71.2% in the third quarter. Palisade Capital Management LLC NJ now owns 197,775 shares of the construction company’s stock valued at $4,074,000 after buying an additional 82,246 shares in the last quarter. Emerald Acquisition Ltd. boosted its stake in shares of Primoris Services Corp by 89.3% in the third quarter. Emerald Acquisition Ltd. now owns 920,655 shares of the construction company’s stock valued at $18,966,000 after buying an additional 434,187 shares in the last quarter. Finally, Springbank Value Partners LP boosted its stake in shares of Primoris Services Corp by 0.8% in the third quarter. Springbank Value Partners LP now owns 130,950 shares of the construction company’s stock valued at $2,698,000 after buying an additional 1,000 shares in the last quarter. 72.83% of the stock is owned by institutional investors.
Primoris Services Corp 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.
