Primoris Services Corp. (PRIM) Shares Down 2.6%
Primoris Services Corp. (NASDAQ:PRIM) dropped 2.6% during mid-day trading on Friday . The company traded as low as $17.26 and last traded at $17.27, with a volume of 126,173 shares trading hands. The stock had previously closed at $17.73.
PRIM has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Primoris Services Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Seaport Global Securities restated a “neutral” rating on shares of Primoris Services Corp. in a report on Thursday, May 12th. Avondale Partners restated an “outperform” rating on shares of Primoris Services Corp. in a report on Thursday, April 21st. DA Davidson lowered shares of Primoris Services Corp. from a “buy” rating to a “neutral” rating in a report on Thursday, August 4th. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Primoris Services Corp. in a research report on Friday, May 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $25.00.
The company has a market cap of $905.47 million and a PE ratio of 23.04. The company’s 50-day moving average price is $18.45 and its 200 day moving average price is $20.96.
Primoris Services Corp. (NASDAQ:PRIM) last issued its earnings results on Thursday, August 4th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.12. The firm had revenue of $456.81 million for the quarter, compared to the consensus estimate of $516.76 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. On average, analysts anticipate that Primoris Services Corp. will post $0.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, September 28th.
A hedge fund recently raised its stake in Primoris Services Corp. stock. US Bancorp DE boosted its position in shares of Primoris Services Corp. (NASDAQ:PRIM) by 19.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,946 shares of the company’s stock after buying an additional 7,321 shares during the period. US Bancorp DE owned 0.09% of Primoris Services Corp. worth $1,012,000 as of its most recent filing with the SEC.
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. It operates in three segments: the West Construction Services segment (West segment), the East Construction Services segment (East segment) and the Energy segment.
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