Primoris Services (PRIM) Scheduled to Post Quarterly Earnings on Wednesday

Primoris Services (NASDAQ:PRIM) is set to release its earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Primoris Services has set its FY24 guidance at $3.05-3.25 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings data on Monday, February 26th. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.21. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. Primoris Services had a return on equity of 13.20% and a net margin of 2.21%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 EPS. On average, analysts expect Primoris Services to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Primoris Services Price Performance

Shares of NASDAQ:PRIM opened at $47.30 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.41 and a current ratio of 1.41. The business’s fifty day moving average price is $42.90 and its two-hundred day moving average price is $36.32. The stock has a market cap of $2.54 billion, a PE ratio of 16.60 and a beta of 1.14. Primoris Services has a one year low of $23.48 and a one year high of $48.40.

Primoris Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, March 27th. Primoris Services’s payout ratio is currently 10.34%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group raised their price target on shares of Primoris Services from $44.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. The Goldman Sachs Group boosted their price target on Primoris Services from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. DA Davidson raised their price objective on Primoris Services from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, StockNews.com lowered Primoris Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th.

Insider Buying and Selling

In related news, Director David Lee King sold 2,500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $40.69, for a total value of $101,725.00. Following the completion of the sale, the director now directly owns 29,217 shares of the company’s stock, valued at $1,188,839.73. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Primoris Services news, CAO Travis L. Stricker sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $40.00, for a total value of $300,000.00. Following the sale, the chief accounting officer now directly owns 9,068 shares in the company, valued at $362,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Lee King sold 2,500 shares of Primoris Services stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $40.69, for a total transaction of $101,725.00. Following the completion of the sale, the director now owns 29,217 shares in the company, valued at $1,188,839.73. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,000 shares of company stock worth $2,040,125. Insiders own 1.30% of the company’s stock.

About Primoris Services

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.