Primoris Services (PRIM) Expected to Announce Earnings on Monday

Key Points

• Primoris Services will release its quarterly earnings on August 4th, with analysts expecting earnings of $1.10 per share and revenue of $1.69 billion.
• The company has recently declared a quarterly dividend of $0.08, with a dividend yield of 0.34%, and a payout ratio of 8.47%.
• Analysts have set new price targets for the stock, with KeyCorp raising theirs to $98.00 and JPMorgan increasing theirs to $102.00, indicating strong buy ratings overall.

Primoris Services (NASDAQ:PRIM - Get Free Report) is expected to issue its quarterly earnings data after the market closes on Monday, August 4th. Analysts expect the company to announce earnings of $1.10 per share and revenue of $1.69 billion for the quarter. Primoris Services has set its FY 2025 guidance at 4.200-4.400 EPS.

Primoris Services (NASDAQ:PRIM - Get Free Report) last issued its quarterly earnings data 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 return on equity of 15.23% and a net margin of 2.68%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the company earned $0.47 earnings per share. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. On average, analysts expect Primoris Services to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Primoris Services Stock Up 0.1%

PRIM stock traded up $0.09 during trading on Thursday, reaching $94.29. 547,703 shares of the company traded hands, compared to its average volume of 910,778. The business has a 50 day simple moving average of $79.55 and a 200 day simple moving average of $71.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. Primoris Services has a 12 month low of $45.92 and a 12 month high of $96.16. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 31.36 and a beta of 1.37.

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Monday, June 30th. Primoris Services's dividend payout ratio (DPR) is presently 8.47%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Primoris Services

Several institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 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 acquiring an additional 33,818 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Primoris Services during the 1st quarter worth about $268,000. Finally, NewEdge Advisors LLC boosted its position in shares of Primoris Services by 34.5% during 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. Hedge funds and other institutional investors own 91.82% 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.