Primoris Services (PRIM) Getting Somewhat Favorable Media Coverage, Report Shows
Headlines about Primoris Services (NASDAQ:PRIM) have trended somewhat positive recently, Accern reports. Accern ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Primoris Services earned a daily sentiment score of 0.11 on Accern’s scale. Accern also assigned news headlines about the construction company an impact score of 46.3943199321546 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Shares of Primoris Services (NASDAQ PRIM) opened at $27.95 on Tuesday. The stock has a market capitalization of $1,449.31, a price-to-earnings ratio of 24.08, a P/E/G ratio of 2.35 and a beta of 1.59. Primoris Services has a one year low of $21.83 and a one year high of $30.00. The company has a quick ratio of 1.41, a current ratio of 1.49 and a debt-to-equity ratio of 0.36.
Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, November 6th. The construction company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.09. The business had revenue of $608.31 million during the quarter, compared to the consensus estimate of $588.19 million. Primoris Services had a return on equity of 11.70% and a net margin of 2.68%. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. equities analysts predict that Primoris Services will post 1.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Primoris Services’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a yield of 0.86%. Primoris Services’s payout ratio is 17.60%.
Several brokerages have recently commented on PRIM. Zacks Investment Research downgraded Primoris Services from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Canaccord Genuity reiterated a “buy” rating and set a $30.00 target price on shares of Primoris Services in a research note on Tuesday, November 7th. Seaport Global Securities restated a “buy” rating and issued a $32.00 price target (up from $29.00) on shares of Primoris Services in a research note on Wednesday, October 11th. Finally, KeyCorp restated a “hold” rating on shares of Primoris Services in a research note on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $31.67.
In other Primoris Services news, CFO Peter J. Moerbeek sold 19,778 shares of Primoris Services stock in a transaction on Monday, September 25th. The stock was sold at an average price of $28.99, for a total value of $573,364.22. Following the completion of the transaction, the chief financial officer now directly owns 43,346 shares of the company’s stock, valued at approximately $1,256,600.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Pratt sold 146,882 shares of Primoris Services stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $28.59, for a total value of $4,199,356.38. Following the completion of the transaction, the director now directly owns 9,332,324 shares of the company’s stock, valued at $266,811,143.16. The disclosure for this sale can be found here. Insiders sold a total of 735,546 shares of company stock valued at $21,045,163 over the last 90 days. 24.00% of the stock is currently owned by corporate insiders.
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About Primoris Services
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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