Somewhat Positive Media Coverage Somewhat Unlikely to Impact Primoris Services Corporation (PRIM) Share Price
Media headlines about Primoris Services Corporation (NASDAQ:PRIM) have been trending somewhat positive recently, according to Accern Sentiment. Accern scores the sentiment of press coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Primoris Services Corporation earned a media sentiment score of 0.11 on Accern’s scale. Accern also gave news stories about the construction company an impact score of 44.3296821361203 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Brian Pratt Sells 225,000 Shares of Primoris Services Corporation (PRIM) Stock (americanbankingnews.com)
- Insider Selling: Primoris Services Corporation (PRIM) Director Sells 88,500 Shares of Stock (americanbankingnews.com)
- Primoris Services Corporation (PRIM) Expected to Announce Earnings of $0.31 Per Share (americanbankingnews.com)
- Primoris Services Corporation (PRIM) Given “Hold” Rating at KeyCorp (americanbankingnews.com)
- Insider Selling: Primoris Services Corporation (PRIM) Director Sells 255,386 Shares of Stock (americanbankingnews.com)
PRIM has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Primoris Services Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. BidaskClub downgraded shares of Primoris Services Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. TheStreet raised shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a report on Friday, August 11th. KeyCorp reaffirmed a “hold” rating on shares of Primoris Services Corporation in a report on Tuesday. Finally, Canaccord Genuity upped their price objective on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $27.00.
Shares of Primoris Services Corporation (NASDAQ PRIM) traded up 1.68% during midday trading on Friday, hitting $29.07. 200,112 shares of the stock were exchanged. Primoris Services Corporation has a 52-week low of $18.71 and a 52-week high of $30.00. The stock has a market cap of $1.50 billion, a P/E ratio of 31.63 and a beta of 1.56. The firm’s 50 day moving average price is $27.08 and its 200-day moving average price is $24.69.
Primoris Services Corporation (NASDAQ:PRIM) last released its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.11. The business had revenue of $631.20 million during the quarter, compared to the consensus estimate of $582.82 million. Primoris Services Corporation had a return on equity of 11.30% and a net margin of 2.09%. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. On average, equities research analysts expect that Primoris Services Corporation will post $1.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 14th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.055 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.76%. Primoris Services Corporation’s dividend payout ratio is currently 23.40%.
In other news, Director Brian Pratt sold 105,734 shares of Primoris Services Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $28.20, for a total transaction of $2,981,698.80. Following the transaction, the director now directly owns 9,646,585 shares of the company’s stock, valued at approximately $272,033,697. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 1,528,578 shares of company stock worth $43,347,838. Insiders own 24.00% of the company’s stock.
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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