Primoris Services (NYSE:PRIM) Stock Price Down 13.7% - Here's What Happened

Key Points

• Primoris shares fell 13.7% to about $68.64, after closing at $79.57 the previous session.
• Quarterly EPS of $1.20 beat the $0.81 consensus, but revenue of $1.95 billion missed estimates and declined 10.4% year over year; EPS was also down from $1.88 a year earlier.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $123.47. The company also declared a quarterly dividend of $0.08 per share.

Shares of Primoris Services Corporation (NYSE:PRIM - Get Free Report) traded down 13.7% on Wednesday. The company traded as low as $68.00 and last traded at $68.6380. Approximately 1,319,436 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 1,414,242 shares. The stock had previously closed at $79.57.

Primoris Services News Summary

Here are the key news stories impacting Primoris Services this week:

• Positive Sentiment: Primoris earned $1.20 per share, topping the $0.81 analyst consensus. One earnings analysis also suggested that the drag from renewables may be nearing an end, which could offer a brighter outlook if that trend materializes. Primoris Q3 earnings surpass estimates Primoris Q3 2026 earnings analysis
• Neutral Sentiment: The company declared a quarterly dividend of $0.08 per share, or $0.32 annualized. The modest payout provides some shareholder income but is unlikely to outweigh the earnings and revenue outlook for investors. Primoris Q3 results presentation
• Negative Sentiment: Revenue was $1.95 billion, below the roughly $2 billion analyst estimate and down 10.4% from a year earlier. EPS also fell from $1.88 a year ago, and coverage characterized quarterly profit as lower. These year-over-year declines and the revenue miss temper the headline earnings beat. Primoris reports third-quarter 2026 results Primoris Q3 profit drops

Wall Street Analyst Weigh In

Several analysts have recently commented on PRIM shares. Guggenheim reduced their price objective on shares of Primoris Services from $162.00 to $127.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Zacks Research upgraded shares of Primoris Services from a "strong sell" rating to a "hold" rating in a research report on Monday, August 24th. Needham & Company LLC cut their target price on shares of Primoris Services from $188.00 to $172.00 and set a "buy" rating on the stock in a research note on Monday, July 13th. Weiss Ratings cut shares of Primoris Services from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $105.00 price target on shares of Primoris Services in a research note on Tuesday, September 29th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $123.47.

Primoris Services Trading Down 14.3%

The business has a fifty day moving average of $75.28 and a 200-day moving average of $112.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $3.67 billion, a P/E ratio of 26.75 and a beta of 1.44.

Primoris Services (NYSE:PRIM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.39. Primoris Services had a net margin of 1.92% and a return on equity of 9.96%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the business posted $1.88 EPS. Primoris Services's quarterly revenue was down 10.4% on a year-over-year basis. Analysts anticipate that Primoris Services Corporation will post 1.77 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, December 31st. Primoris Services's dividend payout ratio is presently 12.55%.

Institutional Investors Weigh In On Primoris Services

A number of hedge funds have recently modified their holdings of PRIM. Root Financial Partners LLC lifted its stake in Primoris Services by 43.1% during the first quarter. Root Financial Partners LLC now owns 229 shares of the company's stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Primoris Services during the 2nd quarter valued at about $26,000. Persistent Asset Partners Ltd purchased a new position in shares of Primoris Services during the 2nd quarter valued at about $36,000. Salomon & Ludwin LLC raised its holdings in shares of Primoris Services by 107.1% during the 3rd quarter. Salomon & Ludwin LLC now owns 377 shares of the company's stock valued at $28,000 after buying an additional 195 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in Primoris Services in the 2nd quarter worth approximately $43,000. Institutional investors own 91.82% of the company's stock.

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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