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

Key Points

• Primoris Services has updated its FY 2025 earnings guidance, providing an EPS forecast of 4.900-5.100.
• The stock has seen several upgrades from brokerages, with KeyCorp raising their price target from $79.00 to $98.00 and JPMorgan increasing theirs from $90.00 to $102.00.
• Primoris Services has announced a quarterly dividend of $0.08 per share, representing an annual yield of 0.3% and a payout ratio of 8.47%.

Primoris Services (NASDAQ:PRIM - Get Free Report) updated its FY 2025 earnings guidance on Monday. The company provided EPS guidance of 4.900-5.100 for the period. The company issued revenue guidance of -.

Analyst Ratings Changes

Several brokerages recently issued reports on PRIM. Guggenheim restated a "buy" rating and set a $110.00 target price on shares of Primoris Services in a research report on Thursday, July 17th. Janney Montgomery Scott assumed coverage on shares of Primoris Services in a research report on Thursday, July 3rd. They issued a "buy" rating and a $102.00 price target for the company. KeyCorp upped their price target on shares of Primoris Services from $79.00 to $98.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of Primoris Services from $90.00 to $102.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Finally, Piper Sandler upped their price target on shares of Primoris Services from $75.00 to $76.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.56.

Primoris Services Stock Up 2.1%

NASDAQ PRIM traded up $1.94 during trading on Monday, reaching $93.08. 1,274,587 shares of the company's stock traded hands, compared to its average volume of 916,715. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 30.82 and a beta of 1.44. The company's 50 day simple moving average is $80.83 and its two-hundred day simple moving average is $72.14. Primoris Services has a 12-month low of $45.92 and a 12-month high of $96.16.

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

Primoris Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 30th. Primoris Services's payout ratio is presently 8.47%.

Insider Buying and Selling

In other news, Director John P. Schauerman sold 15,000 shares of Primoris Services stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $77.37, for a total transaction of $1,160,550.00. Following the completion of the transaction, the director directly owned 102,281 shares of the company's stock, valued at $7,913,480.97. The trade was a 12.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Primoris Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its holdings in Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the construction company's stock worth $43,000 after acquiring an additional 194 shares in the last quarter. Caxton Associates LLP acquired a new stake in Primoris Services during the 1st quarter worth $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Primoris Services by 25.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the construction company's stock worth $9,650,000 after purchasing an additional 33,818 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Primoris Services by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the construction company's stock worth $28,337,000 after purchasing an additional 33,934 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company's stock.

About Primoris Services

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.