Primoris Services Corporation (NASDAQ:PRIM) – Equities research analysts at KeyCorp lifted their Q3 2017 earnings per share estimates for Primoris Services Corporation in a research note issued to investors on Tuesday. KeyCorp analyst T. Afzal now forecasts that the construction company will post earnings of $0.34 per share for the quarter, up from their previous estimate of $0.32. KeyCorp also issued estimates for Primoris Services Corporation’s FY2017 earnings at $1.26 EPS.

Primoris Services Corporation (NASDAQ:PRIM) last announced its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.42 earnings per share for the quarter, beating 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 11.30%. The business 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 for the quarter was up 38.2% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: This news story was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/08/11/q3-2017-eps-estimates-for-primoris-services-corporation-nasdaqprim-raised-by-analyst.html.

A number of other analysts also recently weighed in on PRIM. Zacks Investment Research downgraded shares of Primoris Services Corporation from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub raised shares of Primoris Services Corporation from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Canaccord Genuity raised their price objective on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Primoris Services Corporation currently has a consensus rating of “Hold” and a consensus price target of $26.40.

Shares of Primoris Services Corporation (NASDAQ:PRIM) opened at 25.48 on Friday. Primoris Services Corporation has a 12 month low of $17.26 and a 12 month high of $29.19. The company has a market cap of $1.31 billion, a P/E ratio of 27.73 and a beta of 1.58. The company’s 50 day moving average is $24.93 and its 200-day moving average is $24.14.

Several institutional investors have recently added to or reduced their stakes in the company. Stevens Capital Management LP acquired a new position in Primoris Services Corporation during the first quarter worth approximately $225,000. Commerce Bank increased its position in Primoris Services Corporation by 10.2% in the first quarter. Commerce Bank now owns 18,535 shares of the construction company’s stock worth $431,000 after buying an additional 1,710 shares during the last quarter. Teza Capital Management LLC acquired a new position in Primoris Services Corporation during the first quarter worth approximately $320,000. Van Berkom & Associates Inc. increased its position in Primoris Services Corporation by 0.5% in the first quarter. Van Berkom & Associates Inc. now owns 2,043,486 shares of the construction company’s stock worth $47,450,000 after buying an additional 10,030 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Primoris Services Corporation by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 252,806 shares of the construction company’s stock worth $5,870,000 after buying an additional 10,219 shares during the last quarter. 70.82% of the stock is owned by institutional investors.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 14th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, September 28th. Primoris Services Corporation’s payout ratio is 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.

Earnings History and Estimates for Primoris Services Corporation (NASDAQ:PRIM)

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