KeyCorp Research Analysts Lift Earnings Estimates for Primoris Services Corporation (PRIM)
Primoris Services Corporation (NASDAQ:PRIM) – Stock analysts at KeyCorp upped their Q4 2017 earnings per share (EPS) estimates for Primoris Services Corporation in a research note issued on Tuesday. KeyCorp analyst T. Afzal now anticipates that the construction company will post earnings per share of $0.35 for the quarter, up from their prior forecast of $0.33. KeyCorp also issued estimates for Primoris Services Corporation’s FY2018 earnings at $1.37 EPS and FY2019 earnings at $1.54 EPS.
Primoris Services Corporation (NASDAQ:PRIM) last released its earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.11. Primoris Services Corporation had a net margin of 2.09% and a return on equity of 11.44%. The company had revenue of $631.20 million during the quarter, compared to the consensus estimate of $582.82 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue was up 38.2% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: “KeyCorp Research Analysts Lift Earnings Estimates for Primoris Services Corporation (PRIM)” was published by Daily Political and is owned by of Daily Political. If you are viewing this news story on another site, it was illegally copied and republished in violation of United States & international trademark & copyright laws. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/08/10/keycorp-research-analysts-lift-earnings-estimates-for-primoris-services-corporation-prim.html.
PRIM has been the topic of a number of other reports. Zacks Investment Research upgraded Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Saturday, July 15th. BidaskClub cut Primoris Services Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Canaccord Genuity lifted their target price on Primoris Services Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $26.40.
Primoris Services Corporation (NASDAQ PRIM) traded down 0.62% during midday trading on Thursday, reaching $25.78. 43,223 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $24.88 and its 200 day moving average is $24.13. Primoris Services Corporation has a 1-year low of $17.21 and a 1-year high of $29.19. The stock has a market cap of $1.33 billion, a P/E ratio of 28.05 and a beta of 1.58.
A number of large investors have recently made changes to their positions in the stock. Alambic Investment Management L.P. purchased a new stake in shares of Primoris Services Corporation during the first quarter worth about $348,000. Daiwa Securities Group Inc. purchased a new stake in shares of Primoris Services Corporation during the first quarter worth about $1,700,000. Macquarie Group Ltd. boosted its stake in shares of Primoris Services Corporation by 1.8% in the first quarter. Macquarie Group Ltd. now owns 1,852,926 shares of the construction company’s stock worth $43,025,000 after buying an additional 31,947 shares in the last quarter. Anchor Capital Advisors LLC boosted its stake in shares of Primoris Services Corporation by 40.4% in the first quarter. Anchor Capital Advisors LLC now owns 61,830 shares of the construction company’s stock worth $1,436,000 after buying an additional 17,783 shares in the last quarter. Finally, Van Berkom & Associates Inc. boosted its stake in shares of Primoris Services Corporation by 16.0% in the second quarter. Van Berkom & Associates Inc. now owns 2,370,675 shares of the construction company’s stock worth $59,125,000 after buying an additional 327,189 shares in the last quarter. Institutional investors and hedge funds own 70.82% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 14th. Investors of record on Friday, September 29th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Thursday, September 28th. Primoris Services Corporation’s dividend payout ratio is currently 23.40%.
Primoris Services Corporation Company Profile
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.
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