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

Primoris Services (NASDAQ:PRIM) is projected to announce its earnings results after the market closes on Monday, February 24th. Analysts expect the company to announce earnings of $0.76 per share and revenue of $1.59 billion for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Primoris Services Stock Down 2.6 %

Shares of NASDAQ:PRIM opened at $66.06 on Friday. Primoris Services has a 12 month low of $37.00 and a 12 month high of $90.86. The company’s 50-day moving average price is $78.32 and its two-hundred day moving average price is $69.25. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. The firm has a market cap of $3.55 billion, a P/E ratio of 21.87 and a beta of 1.14.

Analysts Set New Price Targets

PRIM has been the topic of a number of research reports. UBS Group upped their target price on shares of Primoris Services from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. upped their target price on shares of Primoris Services from $77.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Guggenheim initiated coverage on shares of Primoris Services in a research report on Wednesday, January 8th. They set a “buy” rating and a $102.00 target price on the stock. The Goldman Sachs Group upped their target price on shares of Primoris Services from $51.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, DA Davidson upped their target price on shares of Primoris Services from $60.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Primoris Services has a consensus rating of “Buy” and an average target price of $91.50.

Insider Activity at Primoris Services

In related news, Director David Lee King sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $83.98, for a total value of $167,960.00. Following the sale, the director now directly owns 23,818 shares in the company, valued at $2,000,235.64. This trade represents a 7.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.

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.