Primoris Services Corp. (PRIM) Shares Up 6.1%
Primoris Services Corp. (NASDAQ:PRIM) shot up 6.1% on Thursday . The company traded as high as $20.83 and last traded at $19.70, with a volume of 522,276 shares. The stock had previously closed at $18.56.
A number of research firms have recently weighed in on PRIM. Canaccord Genuity restated a “hold” rating on shares of Primoris Services Corp. in a research report on Friday, May 6th. DA Davidson downgraded Primoris Services Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, August 4th. Zacks Investment Research downgraded Primoris Services Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Primoris Services Corp. in a research report on Thursday, May 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Primoris Services Corp. presently has an average rating of “Hold” and an average target price of $24.80.
The firm has a 50-day moving average of $18.27 and a 200-day moving average of $20.84. The stock has a market capitalization of $1.02 billion and a P/E ratio of 26.03.
Primoris Services Corp. (NASDAQ:PRIM) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.12. During the same period last year, the firm earned $0.07 EPS. The firm earned $456.81 million during the quarter, compared to the consensus estimate of $516.76 million. The business’s revenue was down 5.5% compared to the same quarter last year. Equities analysts anticipate that Primoris Services Corp. will post $0.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.19%. The ex-dividend date is Wednesday, September 28th.
A hedge fund recently raised its stake in Primoris Services Corp. stock. US Bancorp DE increased its stake in Primoris Services Corp. (NASDAQ:PRIM) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.