Primoris Services Corp. (PRIM) Trading 6.1% Higher
Primoris Services Corp. (NASDAQ:PRIM)’s share price traded up 6.1% during mid-day trading 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 equities analysts have recently issued reports on the company. Canaccord Genuity reiterated a “hold” rating on shares of Primoris Services Corp. in a report on Friday, May 6th. DA Davidson cut Primoris Services Corp. from a “buy” rating to a “neutral” rating in a report on Thursday, August 4th. Zacks Investment Research cut Primoris Services Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Primoris Services Corp. in a report on Thursday, May 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $24.80.
The firm’s 50 day moving average price is $18.31 and its 200-day moving average price is $20.83. The company has a market capitalization of $1.01 billion and a P/E ratio of 25.64.
Primoris Services Corp. (NASDAQ:PRIM) last posted 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. The business earned $456.81 million during the quarter, compared to analyst estimates of $516.76 million. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, equities research analysts expect that Primoris Services Corp. will post $0.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.055 per share. 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 1.13%.
An institutional investor recently raised its position in Primoris Services Corp. stock. US Bancorp DE raised its position in shares of Primoris Services Corp. (NASDAQ:PRIM) by 19.0% during the fourth quarter, according to its most recent filing with the SEC. The fund 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 SEC filing.
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.