Primoris Services Corp. (PRIM) Earns “Hold” Rating from KeyCorp
Primoris Services Corp. (NASDAQ:PRIM)‘s stock had its “hold” rating reaffirmed by KeyCorp in a report issued on Thursday.
Several other equities research analysts have also commented on PRIM. DA Davidson lowered shares of Primoris Services Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, August 4th. Wunderlich upped their price target on shares of Primoris Services Corp. from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, November 9th. Zacks Investment Research lowered shares of Primoris Services Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, October 15th. Sidoti assumed coverage on shares of Primoris Services Corp. in a research report on Monday, November 21st. They set a “neutral” rating and a $25.00 price target for the company. Finally, Avondale Partners lowered shares of Primoris Services Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday, November 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Primoris Services Corp. presently has a consensus rating of “Hold” and an average price target of $24.67.
Shares of Primoris Services Corp. (NASDAQ:PRIM) opened at 22.93 on Thursday. The company has a 50-day moving average of $21.06 and a 200-day moving average of $19.86. The stock has a market capitalization of $1.19 billion, a P/E ratio of 47.87 and a beta of 1.57. Primoris Services Corp. has a 52 week low of $16.13 and a 52 week high of $25.25.
Primoris Services Corp. (NASDAQ:PRIM) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.16. Primoris Services Corp. had a net margin of 1.31% and a return on equity of 6.87%. The business had revenue of $507.80 million for the quarter, compared to analysts’ expectations of $536.07 million. During the same period in the previous year, the company earned $0.37 EPS. Primoris Services Corp.’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, analysts anticipate that Primoris Services Corp. will post $0.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 16th. Investors of record on Saturday, December 31st will be paid a dividend of $0.055 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.96%. Primoris Services Corp.’s dividend payout ratio (DPR) is presently 45.83%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas increased its position in shares of Primoris Services Corp. by 20.9% in the second quarter. Teacher Retirement System of Texas now owns 5,770 shares of the company’s stock worth $109,000 after buying an additional 997 shares during the period. First Mercantile Trust Co. increased its position in Primoris Services Corp. by 24.9% in the second quarter. First Mercantile Trust Co. now owns 6,055 shares of the company’s stock valued at $115,000 after buying an additional 1,209 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Primoris Services Corp. during the second quarter valued at $198,000. Paloma Partners Management Co acquired a new position in Primoris Services Corp. during the second quarter valued at $200,000. Finally, AQR Capital Management LLC acquired a new position in Primoris Services Corp. during the second quarter valued at $243,000. Institutional investors own 75.59% of the company’s stock.
About Primoris Services Corp.
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.
Receive News & Ratings for Primoris Services Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primoris Services Corp. and related companies with MarketBeat.com's FREE daily email newsletter.