Primoris Services Corp. (PRIM) Shares Down 2.6%
Primoris Services Corp. (NASDAQ:PRIM) shares traded down 2.6% during trading on Friday . The stock traded as low as $17.26 and last traded at $17.27, with a volume of 126,173 shares changing hands. The stock had previously closed at $17.73.
Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Primoris Services Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday. DA Davidson downgraded shares of Primoris Services Corp. from a “buy” rating to a “neutral” rating in a report on Thursday, August 4th. Seaport Global Securities reissued a “neutral” rating on shares of Primoris Services Corp. in a report on Thursday, May 12th. Canaccord Genuity reissued a “hold” rating on shares of Primoris Services Corp. in a report on Friday, May 6th. Finally, Avondale Partners reissued an “outperform” rating on shares of Primoris Services Corp. in a report on Thursday, April 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Primoris Services Corp. presently has a consensus rating of “Hold” and a consensus price target of $25.00.
The firm has a market capitalization of $905.70 million and a PE ratio of 23.04. The company’s 50-day moving average price is $18.41 and its 200 day moving average price is $20.98.
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 Thomson Reuters’ consensus estimate of $0.22 by $0.12. During the same period in the previous year, the business posted $0.07 earnings per share. The company had revenue of $456.81 million for the quarter, compared to analysts’ expectations of $516.76 million. Primoris Services Corp.’s revenue was down 5.5% compared to the same quarter last year. On average, analysts expect that Primoris Services Corp. will post $0.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.055 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.22 dividend on an annualized basis and a yield of 1.26%.
An institutional investor recently raised its position 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 Form 13F filing with the SEC. 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 about 0.09% of Primoris Services Corp. worth $1,012,000 at the end of the most recent reporting period.
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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