NASDAQ:PRIM

Primoris Services - PRIM Stock Forecast, Price & News

$16.25

-0.32 (-1.93%)

(As of 09/30/2022 12:00 AM ET)

Add

Compare

Today's Range: $16.24
▼
$16.82
50-Day Range: $16.25
▼
$23.36
52-Week Range: $15.90
▼
$29.38

Volume: 465,561 shs
Average Volume: 511,880 shs
Market Capitalization: $864.66 million

P/E Ratio: 7.22
Dividend Yield: 1.45%
Price Target: $27.00

Primoris Services MarketRank™ Forecast

Analyst Rating: Hold
2.33 Rating Score
Upside/Downside: 66.2% Upside
$27.00 Price Target
Short Interest: Healthy
1.99% of Float Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: N/A
News Sentiment: 1.10
Based on 5 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 14.80%
From $2.50 to $2.87 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.86 out of 5 stars

Construction Sector

8th out of 106 stocks

Water, Sewer, & Utility Lines Industry

1st out of 6 stocks

3.2

Analyst's Opinion

Consensus Rating
Primoris Services has received a consensus rating of Hold. The company's average rating score is 2.33, and is based on 2 buy ratings, no hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $27.00, Primoris Services has a forecasted upside of 66.2% from its current price of $16.25.
Amount of Analyst Coverage
Primoris Services has only been the subject of 1 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
1.99% of the float of Primoris Services has been sold short.
Short Interest Ratio / Days to Cover
Primoris Services has a short interest ratio ("days to cover") of 3.1, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Primoris Services has recently increased by 0.97%, indicating that investor sentiment is decreasing.

2.5

Dividend Strength

Dividend Yield
Primoris Services pays a meaningful dividend of 1.45%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Primoris Services does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of Primoris Services is 10.67%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Primoris Services will have a dividend payout ratio of 8.36% next year. This indicates that Primoris Services will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for PRIM.

2.8

News and Social Media Coverage

News Sentiment
Primoris Services has a news sentiment score of 1.10. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.51 average news sentiment score of Construction companies.
News Coverage This Week
MarketBeat has tracked 5 news articles for Primoris Services this week, compared to 2 articles on an average week.
MarketBeat Follows
Only 2 people have added Primoris Services to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Primoris Services insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 1.40% of the stock of Primoris Services is held by insiders.
Percentage Held by Institutions
91.48% of the stock of Primoris Services is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

3.1

Earnings and Valuation

Earnings Growth
Earnings for Primoris Services are expected to grow by 14.80% in the coming year, from $2.50 to $2.87 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Primoris Services is 7.22, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 123.90.
Price to Earnings Ratio vs. Sector
The P/E ratio of Primoris Services is 7.22, which means that it is trading at a less expensive P/E ratio than the Construction sector average P/E ratio of about 12.41.
Price to Book Value per Share Ratio
Primoris Services has a P/B Ratio of 0.88. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Primoris Services (NASDAQ:PRIM) Stock

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. 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. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation. The Pipeline Services segment offers a range of services comprising pipeline construction, maintenance, facility, and integrity services; installation of compressor and pump stations; and metering facilities for entities in the petroleum and petrochemical industries, as well as gas, water, and sewer utilities. The company was founded in 1960 and is headquartered in Dallas, Texas.

Receive PRIM Stock News and Ratings via Email

Sign-up to receive the latest news and ratings for Primoris Services and its competitors with MarketBeat's FREE daily newsletter.

PRIM Stock News Headlines

September 29, 2022 | americanbankingnews.com

Primoris Services (NASDAQ:PRIM) Shares Down 2.7%

September 28, 2022 | finance.yahoo.com

Primoris Services' (NASDAQ:PRIM) Dividend Will Be $0.06

September 13, 2022 | nasdaq.com

Primoris Services (NASDAQ:PRIM) investors are sitting on a loss of 26% if they invested five years ago

September 9, 2022 | finance.yahoo.com

Primoris Services Corporation to Participate in September 2022 Investor Conferences

September 7, 2022 | finance.yahoo.com

Primoris (PRIM) Secures $120M Pipeline Deal, Boosts Backlog

September 6, 2022 | finance.yahoo.com

Primoris Services Corporation Awarded Pipeline Project, Valued Over $120 Million

August 24, 2022 | benzinga.com

Primoris Services Pockets $270M Solar Project

August 23, 2022 | seekingalpha.com

Primoris Services awarded $270M solar project

August 23, 2022 | marketwatch.com

Primoris Services Awarded $270 Million Solar Project

August 23, 2022 | nasdaq.com

Primoris Services Gets $270 Mln Solar Project Award

August 23, 2022 | finance.yahoo.com

Primoris Services Corporation Awarded $270 Million Solar Project

August 12, 2022 | finance.yahoo.com

Primoris Services (NASDAQ:PRIM) Has Announced A Dividend Of $0.06

August 10, 2022 | finance.yahoo.com

Why Primoris Services Corporation (NASDAQ:PRIM) Could Be Worth Watching

August 9, 2022 | seekingalpha.com

Primoris Services Corp (PRIM) CEO Thomas McCormick on Q2 2022 Results - Earnings Call Transcript

August 8, 2022 | finance.yahoo.com

Primoris Services (PRIM) Q2 Earnings Lag Estimates

August 8, 2022 | finance.yahoo.com

Primoris Services Corporation Reports Second Quarter 2022 Results

July 29, 2022 | nasdaq.com

A Primoris Services Corporation (NASDAQ:PRIM) insider lowered their holding by 35% earlier this year

July 25, 2022 | finance.yahoo.com

Primoris Services Corporation Schedules Second Quarter 2022 Earnings Conference Call and Webcast

July 20, 2022 | finance.yahoo.com

The past year for Primoris Services (NASDAQ:PRIM) investors has not been profitable

July 20, 2022 | finance.yahoo.com

Zacks Industry Outlook Highlights Dycom Industries and Primoris Services

July 19, 2022 | finance.yahoo.com

2 Heavy Construction Stocks to Buy Despite Industry Challenges

July 14, 2022 | finance.yahoo.com

Implied Volatility Surging for Primoris (PRIM) Stock Options

July 5, 2022 | finance.yahoo.com

Primoris Services Corporation to Participate in the CJS Securities 22nd Annual New Ideas Summer Conference

July 5, 2022 | finance.yahoo.com

Primoris Services Corporation Secures a Contract Valued Over $170 Million by the Energy/Renewables Segment

July 1, 2022 | finance.yahoo.com

Should Value Investors Buy Primoris Services (PRIM) Stock?

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

Receive PRIM Stock News and Ratings via Email

Sign-up to receive the latest news and ratings for Primoris Services and its competitors with MarketBeat's FREE daily newsletter.

PRIM Company Calendar

Ex-Dividend for 7/15 Dividend: 6/29/2022
Dividend Payable: 7/15/2022
Last Earnings: 8/08/2022
Ex-Dividend for 10/14 Dividend: 9/29/2022
Today: 10/01/2022
Dividend Payable: 10/14/2022
Next Earnings (Estimated): 11/14/2022
Fiscal Year End: 12/31/2022

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Water, sewer, & utility lines
Sub-Industry: Construction & Engineering
Sector: Construction
Current Symbol: NASDAQ:PRIM
CUSIP: 74164F10
CIK: 1361538
Web: www.primoriscorp.com
Phone: (214) 740-5600
Fax: N/A
Employees: 10,810
Year Founded: 2004

Price Target and Rating

Average Stock Price Forecast: $27.00
High Stock Price Forecast: $30.00
Low Stock Price Forecast: $24.00
Forecasted Upside/Downside: +66.2%
Consensus Rating: Hold
Rating Score (0-4): 2.33
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): $2.25
Trailing P/E Ratio: 7.22
Forward P/E Ratio: 6.50
P/E Growth: N/A
Net Income: $115.61 million
Net Margins: 3.38%
Pretax Margin: 4.29%
Return on Equity: 10.96%
Return on Assets: 4.18%

Debt

Debt-to-Equity Ratio: 0.62
Current Ratio: 1.48
Quick Ratio: 1.48

Sales & Book Value

Annual Sales: $3.50 billion
Price / Sales: 0.25
Cash Flow: $4.54 per share
Price / Cash Flow: 3.58
Book Value: $18.40 per share
Price / Book: 0.88

Miscellaneous

Outstanding Shares: 53,210,000
Free Float: 52,467,000
Market Cap: $864.66 million
Optionable: Optionable
Beta: 1.10

Social Links

Key Executives

Mr. Thomas E. McCormick (Age 60)
CEO, Pres & Director
Comp: $1.8M

Mr. Kenneth M. Dodgen CPA (Age 56)
Exec. VP & CFO
Comp: $985.42k

Mr. John F. Moreno Jr. (Age 53)
Exec. VP & COO
Comp: $1.16M

Mr. John M. Perisich (Age 57)
Exec. VP, Chief Legal Officer & Sec.
Comp: $1.06M

Mr. Travis L. Stricker (Age 51)
Chief Accounting Officer & Sr. VP of Fin.

Ms. Brook Wootton
VP of Investor Relations

Mr. Scott E. Summers (Age 64)
Segment Pres of Pipeline Services

Mr. Timothy R. Healy (Age 62)
Pres of Energy & Renewables - West

Mr. Jeremy R. Kinch P.E. (Age 48)
Segment Pres of Energy & Renewables

Mr. Jaeson Osborn
Segment Pres of Utilities

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

PRIM Stock - Frequently Asked Questions

Should I buy or sell Primoris Services stock right now?: 3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Primoris Services in the last year. There are currently 1 sell rating and 2 buy ratings 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.
What is Primoris Services' stock price forecast for 2022?: 3 Wall Street research analysts have issued 1 year price objectives for Primoris Services' shares. Their PRIM share price forecasts range from $24.00 to $30.00. On average, they predict the company's stock price to reach $27.00 in the next twelve months. This suggests a possible upside of 66.2% from the stock's current price.
View analysts price targets for PRIM or view top-rated stocks among Wall Street analysts.
How have PRIM shares performed in 2022?: Primoris Services' stock was trading at $23.98 at the start of the year. Since then, PRIM shares have decreased by 32.2% and is now trading at $16.25.
View the best growth stocks for 2022 here.
When is Primoris Services' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Monday, November 14th 2022.
View our PRIM earnings forecast.
How were Primoris Services' earnings last quarter?: Primoris Services Co. (NASDAQ:PRIM) posted its earnings results on Monday, August, 8th. The construction company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.59 by $0.11. The construction company earned $1.02 billion during the quarter, compared to analysts' expectations of $938.51 million. Primoris Services had a trailing twelve-month return on equity of 10.96% and a net margin of 3.38%.
How often does Primoris Services pay dividends? What is the dividend yield for Primoris Services?: Primoris Services announced a quarterly dividend on Wednesday, August 3rd. Investors of record on Friday, September 30th will be given a dividend of $0.06 per share on Friday, October 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Thursday, September 29th.
Read our dividend analysis for PRIM.
Is Primoris Services a good dividend stock?: Primoris Services (NASDAQ:PRIM) pays an annual dividend of $0.24 per share and currently has a dividend yield of 1.45%. The dividend payout ratio is 10.67%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PRIM will have a dividend payout ratio of 8.36% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PRIM.
What guidance has Primoris Services issued on next quarter's earnings?: Primoris Services updated its FY 2022 earnings guidance on Tuesday, September, 6th. The company provided earnings per share (EPS) guidance of $2.39-$2.59 for the period. The company issued revenue guidance of -.

What is Brian Pratt's approval rating as Primoris Services' CEO?: 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.
What other stocks do shareholders of Primoris Services own?: 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).
What is Primoris Services' stock symbol?: Primoris Services trades on the NASDAQ under the ticker symbol "PRIM."
How do I buy shares of Primoris Services?: 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.
Compare Top Brokerages Here.
What is Primoris Services' stock price today?: One share of PRIM stock can currently be purchased for approximately $16.25.
How much money does Primoris Services make?: Primoris Services (NASDAQ:PRIM) has a market capitalization of $864.66 million and generates $3.50 billion in revenue each year. The construction company earns $115.61 million in net income (profit) each year or $2.25 on an earnings per share basis.
How many employees does Primoris Services have?: The company employs 10,810 workers across the globe.
Does Primoris Services have any subsidiaries?: The following companies are subsidiares of Primoris Services: ARB Chile Ltda., ARB Inc., ARB Structures Inc., Aevenia Inc., Cardinal Contractors Inc., Coastal Field Services, Cravens Services, FSSI, Florida Gas Contractors, Future Infrastructure, James Construction Group, James Construction Group LLC, Juniper Rock Corporation, Mueller Concrete Construction Company, Northern Energy & Power, OnQuest Canada ULC, OnQuest Inc., PFMG Solar Tustin LLC, Pipe Jacking Trenchless Inc., Primoris Aevenia Inc., Primoris Design & Construction Inc., Primoris Distribution Services Inc., Primoris Electric Inc., Primoris Energy Services Corporation, Primoris T&D Services LLC, Primoris Willbros Canada ULC, Q3 Contracting Inc., Q3C, Ram-Fab, Rockford Corporation, Rockford Holdings Corporation, Rockford Pipelines Canada Inc., Saxon Construction Inc., Sprint Pipeline Services, Surber, Vadnais, Vadnais Trenchless Services Inc., WesPac Energy, Willbros Group, Willbros Group Inc., and Williams.
Read More
How can I contact Primoris Services?: Primoris Services' mailing address is 2300 N. Field Street Suite1900, Dallas TX, 75201. The official website for the company is www.primoriscorp.com. The construction company can be reached via phone at (214) 740-5600 or via email at ktholking@prim.com.

This page (NASDAQ:PRIM) was last updated on 10/2/2022 by MarketBeat.com Staff

Get 30 Days of MarketBeat All Access Free

Best-in-Class Portfolio Monitoring
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Stock Ideas and Recommendations
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.
Advanced Stock Screeners and Research Tools
Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.

Start Your 30-Day Free Trial

Primoris Services - PRIM Stock Forecast, Price & News

Primoris Services MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month