Primoris Services (PRIM) Set to Announce Quarterly Earnings on Monday

Primoris Services (NASDAQ:PRIM) is scheduled to post its quarterly earnings results after the market closes on Monday, November 4th. Analysts expect Primoris Services to post earnings of $0.95 per share for the quarter. Primoris Services has set its FY24 guidance at $3.25-3.45 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.39. Primoris Services had a net margin of 2.56% and a return on equity of 14.81%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. 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 Trading Up 1.6 %

PRIM opened at $63.61 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.65. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 22.40 and a beta of 1.07. Primoris Services has a 12 month low of $29.14 and a 12 month high of $64.66. The stock has a fifty day moving average price of $57.86 and a 200-day moving average price of $53.51.

Primoris Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.06 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.24 annualized dividend and a yield of 0.38%. Primoris Services’s dividend payout ratio (DPR) is 8.45%.

Insider Buying and Selling

In other news, Director John P. Schauerman sold 25,000 shares of Primoris Services stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $59.25, for a total value of $1,481,250.00. Following the sale, the director now directly owns 137,281 shares of the company’s stock, valued at $8,133,899.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $59.25, for a total value of $1,481,250.00. Following the transaction, the director now directly owns 137,281 shares of the company’s stock, valued at $8,133,899.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John M. Perisich sold 4,391 shares of Primoris Services stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $55.33, for a total value of $242,954.03. The disclosure for this sale can be found here. Insiders sold a total of 54,391 shares of company stock worth $3,075,454 in the last 90 days. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

PRIM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. assumed coverage on Primoris Services in a research report on Monday, October 7th. They issued an “overweight” rating and a $71.00 price objective for the company. UBS Group raised their price target on Primoris Services from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

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.