Primoris Services (NASDAQ:PRIM) issued an update on its FY19 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.60-1.80 for the period, compared to the Thomson Reuters consensus estimate of $1.69.
Shares of Primoris Services stock opened at $22.66 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.18 billion, a PE ratio of 13.44 and a beta of 1.42. The business has a 50 day moving average of $20.40 and a 200 day moving average of $20.16. Primoris Services has a 52 week low of $17.80 and a 52 week high of $24.85.
Primoris Services (NASDAQ:PRIM) last announced its earnings results on Monday, November 4th. The construction company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. The company had revenue of $865.10 million during the quarter, compared to the consensus estimate of $888.30 million. Primoris Services had a return on equity of 14.32% and a net margin of 2.75%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, research analysts anticipate that Primoris Services will post 1.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.06 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.24 annualized dividend and a yield of 1.06%. Primoris Services’s payout ratio is 14.12%.
Several equities research analysts recently weighed in on PRIM shares. ValuEngine raised Primoris Services from a sell rating to a hold rating in a research note on Wednesday, October 2nd. BidaskClub raised Primoris Services from a sell rating to a hold rating in a research note on Wednesday, October 9th. KeyCorp cut their target price on Primoris Services from $28.00 to $27.00 and set an overweight rating on the stock in a research note on Tuesday. Finally, Zacks Investment Research cut Primoris Services from a buy rating to a hold rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Primoris Services currently has a consensus rating of Hold and an average price target of $25.50.
In other Primoris Services news, Director Stephen C. Cook sold 2,349 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $20.92, for a total value of $49,141.08. Following the transaction, the director now owns 14,172 shares of the company’s stock, valued at $296,478.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Pratt sold 19,678 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $20.01, for a total value of $393,756.78. Following the completion of the transaction, the director now directly owns 2,114,721 shares in the company, valued at approximately $42,315,567.21. The disclosure for this sale can be found here. In the last three months, insiders sold 492,787 shares of company stock worth $10,065,268. 13.80% of the stock is owned by corporate insiders.
About Primoris Services
Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through five segments: Power, Industrial, and Engineering; Pipeline and Underground; Utilities and Distribution; Transmission and Distribution; and Civil.
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