Primoris Services (NASDAQ:PRIM - Get Free Report) is anticipated to announce its earnings results after the market closes on Monday, May 5th. Analysts expect the company to announce earnings of $0.70 per share and revenue of $1.49 billion for the quarter.
Primoris Services Trading Down 2.0 %
NASDAQ:PRIM traded down $1.24 during trading hours on Wednesday, hitting $60.05. The company had a trading volume of 951,364 shares, compared to its average volume of 729,833. Primoris Services has a 52 week low of $45.37 and a 52 week high of $90.86. The stock has a 50-day moving average price of $61.23 and a 200 day moving average price of $71.21. 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 company has a market capitalization of $3.24 billion, a PE ratio of 19.88 and a beta of 1.17.
Primoris Services Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, March 31st. Primoris Services's payout ratio is presently 9.64%.
Wall Street Analyst Weigh In
Several equities analysts have commented on PRIM shares. KeyCorp lowered their price objective on Primoris Services from $90.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Jefferies Financial Group started coverage on Primoris Services in a research note on Tuesday, March 11th. They issued a "buy" rating and a $73.00 target price on the stock. Piper Sandler started coverage on shares of Primoris Services in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $75.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Primoris Services from $88.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, DA Davidson reiterated a "buy" rating and set a $85.00 price target on shares of Primoris Services in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $84.75.
Check Out Our Latest Research Report on Primoris Services
Insider Buying and Selling at Primoris Services
In other news, Director Stephen C. Cook sold 998 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $68.00, for a total value of $67,864.00. Following the transaction, the director now directly owns 7,377 shares in the company, valued at $501,636. This trade represents a 11.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeremy Kinch sold 4,500 shares of Primoris Services stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $68.24, for a total value of $307,080.00. Following the completion of the sale, the insider now directly owns 12,586 shares of the company's stock, valued at $858,868.64. The trade was a 26.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,888 shares of company stock worth $4,310,043. Company insiders own 1.40% 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.
Further Reading
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