Primoris Services - PRIM Stock Forecast, Price & News

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Primoris Services in the last twelve months. There are currently 1 sell rating and 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" PRIM shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in PRIM, but not buy additional shares or sell existing shares.
View PRIM analyst ratings or view top-rated stocks.

2 Wall Street research analysts have issued 12 month target prices for Primoris Services' shares. Their PRIM share price forecasts range from $22.50 to $34.00. On average, they expect the company's share price to reach $29.63 in the next twelve months. This suggests a possible upside of 21.9% from the stock's current price.
View analysts price targets for PRIM or view top-rated stocks among Wall Street analysts.

Primoris Services' stock was trading at $21.94 on January 1st, 2023. Since then, PRIM shares have increased by 10.8% and is now trading at $24.30.
View the best growth stocks for 2023 here.

Primoris Services saw a increase in short interest in March. As of March 15th, there was short interest totaling 879,100 shares, an increase of 21.8% from the February 28th total of 721,500 shares. Based on an average trading volume of 270,800 shares, the short-interest ratio is currently 3.2 days. Currently, 1.7% of the shares of the company are sold short.
View Primoris Services' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Monday, May 8th 2023.
View our PRIM earnings forecast.

Primoris Services Co. (NASDAQ:PRIM) released its earnings results on Monday, February, 27th. The construction company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06. The construction company had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.32 billion. Primoris Services had a net margin of 3.01% and a trailing twelve-month return on equity of 13.06%. The business's quarterly revenue was up 50.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 EPS.

Primoris Services declared a quarterly dividend on Wednesday, February 22nd. Shareholders of record on Friday, March 31st will be given a dividend of $0.06 per share on Friday, April 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, March 30th.
Read our dividend analysis for PRIM.

ETFs with the largest weight of Primoris Services (NASDAQ:PRIM) stock in their portfolio include First Trust RBA American Industrial RenaissanceTM ETF (AIRR), iShares U.S. Infrastructure ETF (IFRA), First Trust Small Cap Value AlphaDEX Fund (FYT), WisdomTree Battery Value Chain and Innovation Fund (WBAT), VictoryShares US Small Mid Cap Value Momentum ETF (USVM), First Trust Small Cap Core AlphaDEX Fund (FYX), Small Cap US Equity Select ETF (RNSC) and Timothy Plan US Small Cap Core ETF (TPSC).

Primoris Services (NASDAQ:PRIM) pays an annual dividend of $0.24 per share and currently has a dividend yield of 1.00%. The dividend payout ratio is 9.72%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PRIM will have a dividend payout ratio of 7.82% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PRIM.

Primoris Services updated its FY23 earnings guidance on Monday, February, 27th. The company provided earnings per share guidance of $2.50-$2.70 for the period, compared to the consensus earnings per share estimate of $2.89.

23 employees have rated Primoris Services Chief Executive Officer Brian Pratt on Glassdoor.com. Brian Pratt has an approval rating of 71% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Primoris Services investors own include InterDigital (IDCC), Bank of Hawaii (BOH), STAG Industrial (STAG), Verizon Communications (VZ), Bristol-Myers Squibb (BMY), Intel (INTC), Marathon Petroleum (MPC), Pfizer (PFE), Southern (SO) and AT&T (T).

Primoris Services trades on the NASDAQ under the ticker symbol "PRIM."

Primoris Services' stock is owned by a number of retail and institutional investors. Top institutional investors include Dimensional Fund Advisors LP (5.53%), Van Berkom & Associates Inc. (4.08%), Franklin Resources Inc. (2.91%), GW&K Investment Management LLC (2.72%), Geode Capital Management LLC (1.88%) and Schroder Investment Management Group (1.85%). Insiders that own company stock include David Lee King, John F Moreno Jr, John P Schauerman, Stephen C Cook, Terry D Mccallister and Thomas E Tucker.
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Shares of PRIM stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of PRIM stock can currently be purchased for approximately $24.30.

Primoris Services (NASDAQ:PRIM) has a market capitalization of $1.29 billion and generates $4.42 billion in revenue each year. The construction company earns $133.02 million in net income (profit) each year or $2.47 on an earnings per share basis.

The company employs 12,802 workers across the globe.

Primoris Services' mailing address is 2300 N. Field Street Suite1900, Dallas TX, 75201. The official website for the company is www.prim.com. The construction company can be reached via phone at (214) 740-5600 or via email at ktholking@prim.com.