Primoris Services (NASDAQ:PRIM - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.050-3.250 for the period, compared to the consensus estimate of 2.760. The company issued revenue guidance of -. Primoris Services also updated its FY24 guidance to $3.05-3.25 EPS.
Primoris Services Price Performance
Shares of PRIM stock traded up $0.12 on Wednesday, reaching $47.79. The company's stock had a trading volume of 1,329,140 shares, compared to its average volume of 494,344. Primoris Services has a 12-month low of $23.70 and a 12-month high of $48.76. The stock's 50 day simple moving average is $43.24 and its 200-day simple moving average is $36.57. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $2.56 billion, a P/E ratio of 20.60 and a beta of 1.14.
Primoris Services (NASDAQ:PRIM - Get Free Report) last announced its earnings results on Monday, February 26th. The construction company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.21. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.55 billion. Primoris Services had a net margin of 2.21% and a return on equity of 13.20%. Primoris Services's quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share. As a group, equities analysts predict that Primoris Services will post 2.61 earnings per share for the current fiscal year.
Primoris Services Dividend Announcement
The firm also recently declared 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 was Wednesday, March 27th. This represents a $0.24 annualized dividend and a yield of 0.50%. Primoris Services's payout ratio is 10.34%.
Wall Street Analysts Forecast Growth
PRIM has been the topic of a number of recent analyst reports. DA Davidson increased their price target on shares of Primoris Services from $45.00 to $55.00 and gave the stock a buy rating in a research note on Thursday, April 4th. The Goldman Sachs Group upped their price target on Primoris Services from $38.00 to $43.00 and gave the stock a neutral rating in a research note on Thursday, April 4th. UBS Group raised their price objective on 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.
Read Our Latest Analysis on Primoris Services
Insider Transactions at Primoris Services
In related news, Director John P. Schauerman sold 20,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $40.61, for a total value of $812,200.00. Following the completion of the sale, the director now directly owns 237,281 shares of the company's stock, valued at approximately $9,635,981.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Travis L. Stricker sold 7,500 shares of Primoris Services stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $40.00, for a total transaction of $300,000.00. Following the sale, the chief accounting officer now owns 9,068 shares of the company's stock, valued at approximately $362,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Schauerman sold 20,000 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $40.61, for a total value of $812,200.00. Following the completion of the transaction, the director now owns 237,281 shares of the company's stock, valued at $9,635,981.41. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $2,040,125 in the last three months. Corporate insiders own 1.30% of the company's stock.
Primoris Services Company Profile
(
Get Free Report)
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.
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