Primoris Services Q3 Earnings Forecast Increased by KeyCorp

Key Points

• KeyCorp raised its Primoris Services Q3 2026 EPS estimate to $0.82 from $0.65, while forecasting $0.95 for Q4 and $1.95 for full-year 2026.
• Primoris’ latest quarter beat EPS expectations, reporting a $0.27 loss versus the anticipated $0.35 loss, but revenue fell 10.7% year over year to $1.69 billion.
• Shares opened at $66.80 after falling 8.1%, near the company’s 52-week low; analysts still maintain a “Moderate Buy” consensus with a $123.47 average price target.

Primoris Services Corporation (NYSE:PRIM - Free Report) - KeyCorp increased their Q3 2026 earnings per share estimates for shares of Primoris Services in a research report issued on Thursday, October 15th. KeyCorp analyst S. Jain now forecasts that the company will post earnings per share of $0.82 for the quarter, up from their previous estimate of $0.65. The consensus estimate for Primoris Services' current full-year earnings is $1.74 per share. KeyCorp also issued estimates for Primoris Services' Q4 2026 earnings at $0.95 EPS and FY2026 earnings at $1.95 EPS.

Primoris Services (NYSE:PRIM - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.08. Primoris Services had a return on equity of 9.96% and a net margin of 1.92%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The firm's revenue for the quarter was down 10.7% compared to the same quarter last year.

Several other equities research analysts have also commented on the stock. Roth Capital reiterated a "buy" rating and issued a $100.00 price objective on shares of Primoris Services in a research note on Monday, July 20th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $105.00 price objective on shares of Primoris Services in a research report on Tuesday, September 29th. Needham & Company LLC reduced their target price on shares of Primoris Services from $188.00 to $172.00 and set a "buy" rating for the company in a research report on Monday, July 13th. Weiss Ratings lowered shares of Primoris Services from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $99.00 price objective on shares of Primoris Services in a research note on Thursday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Primoris Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.47.

Primoris Services Trading Down 8.1%

PRIM opened at $66.80 on Friday. The company has a fifty day moving average price of $76.41 and a two-hundred day moving average price of $100.57. Primoris Services has a 1-year low of $65.00 and a 1-year high of $205.50. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.60 billion, a P/E ratio of 26.20 and a beta of 1.44.

Hedge Funds Weigh In On Primoris Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Primoris Services in the second quarter worth $677,685,000. Wellington Management Group LLP increased its stake in Primoris Services by 148.7% during the 2nd quarter. Wellington Management Group LLP now owns 4,675,487 shares of the company's stock valued at $463,434,000 after purchasing an additional 2,795,887 shares in the last quarter. First Trust Advisors LP raised its holdings in Primoris Services by 47.4% in the 1st quarter. First Trust Advisors LP now owns 2,886,163 shares of the company's stock worth $412,837,000 after acquiring an additional 928,155 shares during the last quarter. Grandeur Peak Global Advisors LLC bought a new position in shares of Primoris Services during the second quarter valued at $3,482,000. Finally, Vontobel Holding Ltd. lifted its stake in Primoris Services by 34.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 452,306 shares of the company's stock valued at $33,706,000 after acquiring an additional 114,640 shares during the period. Hedge funds and other institutional investors own 91.82% of the company's stock.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, September 30th. Primoris Services's dividend payout ratio is 12.55%.

About Primoris Services

Primoris Services Corporation NYSE: PRIM is a specialty contractor that provides construction, engineering, maintenance and fabrication services for critical infrastructure. The company serves customers in the energy, utilities and industrial markets, with work spanning power generation, power delivery, natural gas, renewable energy, petrochemical and industrial facilities.

Its services include utility and transmission construction, renewable energy development support, underground and overhead infrastructure, pipeline construction, facility maintenance, environmental services and specialty industrial construction.

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