Primoris Services (PRIM) Scheduled to Post Quarterly Earnings on Wednesday

Primoris Services (NASDAQ:PRIM - Get Free Report) is set to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Primoris Services has set its FY24 guidance at $3.05-3.25 EPS.Investors that are interested in registering for the company's conference call can do so using this link.

Primoris Services (NASDAQ:PRIM - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The construction company reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.21. Primoris Services had a net margin of 2.21% and a return on equity of 13.20%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The company's revenue was up 14.0% on a year-over-year basis. On average, analysts expect Primoris Services to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Primoris Services Trading Down 1.8 %

Primoris Services stock traded down $0.84 during trading hours on Wednesday, reaching $45.76. 367,687 shares of the company's stock traded hands, compared to its average volume of 469,194. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.41 and a current ratio of 1.41. Primoris Services has a fifty-two week low of $23.48 and a fifty-two week high of $47.87. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 20.07 and a beta of 1.19. The firm's 50 day moving average is $42.46 and its 200-day moving average is $35.99.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.52%. Primoris Services's payout ratio is presently 10.34%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PRIM. DA Davidson upped their target price on shares of Primoris Services from $45.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, April 4th. The Goldman Sachs Group upped their target price on shares of Primoris Services from $38.00 to $43.00 and gave the company a "neutral" rating in a research report on Thursday, April 4th. UBS Group upped their target price on shares of Primoris Services from $44.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, April 5th. Finally, StockNews.com downgraded shares of Primoris Services from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 7th.

Insider Transactions at Primoris Services

In other news, CAO Travis L. Stricker sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $40.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,068 shares of the company's stock, valued at approximately $362,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Travis L. Stricker sold 7,500 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $40.00, for a total value of $300,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,068 shares of the company's stock, valued at $362,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Lee King sold 2,500 shares of Primoris Services stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $40.69, for a total transaction of $101,725.00. Following the transaction, the director now directly owns 29,217 shares of the company's stock, valued at $1,188,839.73. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $2,040,125 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Primoris Services Company Profile

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.