Primoris Services (NASDAQ:PRIM) Updates FY 2025 Earnings Guidance

Primoris Services (NASDAQ:PRIM - Get Free Report) issued an update on its FY 2025 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 4.200-4.400 for the period, compared to the consensus estimate of 4.310. The company issued revenue guidance of -.

Primoris Services Stock Down 0.7 %

Shares of Primoris Services stock traded down $0.50 on Friday, hitting $67.98. 75,218 shares of the company traded hands, compared to its average volume of 740,475. 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 company has a market cap of $3.67 billion, a PE ratio of 22.51 and a beta of 1.33. The company has a 50-day moving average price of $60.79 and a 200 day moving average price of $71.39. Primoris Services has a 12-month low of $45.92 and a 12-month high of $90.86.

Primoris Services (NASDAQ:PRIM - Get Free Report) last issued its earnings results on Monday, May 5th. The construction company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.28. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.49 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The firm's revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. Sell-side analysts predict that Primoris Services will post 3.26 earnings per share for the current year.

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.47%. Primoris Services's dividend payout ratio is currently 8.47%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of Primoris Services from $75.00 to $76.00 and gave the stock an "overweight" rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on Primoris Services from $88.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. DA Davidson reiterated a "buy" rating and issued a $85.00 target price on shares of Primoris Services in a research note on Tuesday, February 25th. Guggenheim reissued a "buy" rating and set a $110.00 price target on shares of Primoris Services in a research note on Thursday, April 10th. Finally, Jefferies Financial Group began coverage on shares of Primoris Services in a research report on Tuesday, March 11th. They issued a "buy" rating and a $73.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $85.75.

Insider Buying and Selling

In other news, CEO Thomas Edward Mccormick sold 61,390 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $64.10, for a total value of $3,935,099.00. Following the completion of the transaction, the chief executive officer now directly owns 46,796 shares of the company's stock, valued at $2,999,623.60. The trade was a 56.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeremy Kinch sold 4,500 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $68.24, for a total value of $307,080.00. Following the completion of the transaction, the insider now owns 12,586 shares of the company's stock, valued at $858,868.64. This trade represents a 26.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,888 shares of company stock valued at $4,310,043 in the last ninety days. Company insiders own 0.90% of the company's stock.

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.