Primoris Services Co. (NASDAQ:PRIM) has been given a consensus rating of “Buy” by the six research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $29.00.
PRIM has been the topic of a number of recent analyst reports. DA Davidson increased their price target on shares of Primoris Services from $35.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, February 24th. Zacks Investment Research cut shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Thursday, April 22nd.
NASDAQ:PRIM opened at $32.69 on Friday. The company’s 50 day moving average price is $33.47 and its 200-day moving average price is $29.71. Primoris Services has a 52 week low of $12.75 and a 52 week high of $41.76. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 16.10 and a beta of 1.32.
Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings results on Sunday, February 21st. The construction company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.23. Primoris Services had a net margin of 2.96% and a return on equity of 16.17%. The firm had revenue of $897.34 million for the quarter, compared to analysts’ expectations of $852.93 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Primoris Services will post 1.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Wednesday, June 30th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, June 29th. Primoris Services’s dividend payout ratio is currently 14.91%.
Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new position in shares of Primoris Services during the 1st quarter worth $25,000. Fifth Third Bancorp purchased a new position in shares of Primoris Services during the 1st quarter worth $63,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Primoris Services by 609.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,150 shares of the construction company’s stock worth $87,000 after acquiring an additional 2,706 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Primoris Services by 18.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,160 shares of the construction company’s stock worth $75,000 after acquiring an additional 651 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of Primoris Services during the 4th quarter worth $136,000. Institutional investors own 85.53% of the company’s stock.
About Primoris Services
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 in five segments: Power, Industrial, and Engineering; Pipeline and Underground; Utilities and Distribution; Transmission and Distribution; and Civil.
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