Zacks: Brokerages Anticipate Primoris Services Corp (PRIM) to Announce $0.01 EPS
Wall Street analysts predict that Primoris Services Corp (NASDAQ:PRIM) will report earnings of $0.01 per share for the current quarter, according to Zacks. Two analysts have made estimates for Primoris Services’ earnings. The highest EPS estimate is $0.02 and the lowest is $0.00. Primoris Services posted earnings per share of $0.15 in the same quarter last year, which indicates a negative year-over-year growth rate of 93.3%. The company is scheduled to issue its next quarterly earnings report on Monday, May 14th.
On average, analysts expect that Primoris Services will report full-year earnings of $1.53 per share for the current fiscal year, with EPS estimates ranging from $1.38 to $1.60. For the next fiscal year, analysts expect that the company will report earnings of $1.85 per share, with EPS estimates ranging from $1.82 to $1.87. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Primoris Services.
Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings results on Tuesday, February 27th. The construction company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The business had revenue of $579.02 million during the quarter, compared to analyst estimates of $558.67 million. Primoris Services had a net margin of 3.04% and a return on equity of 11.11%. Primoris Services’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 EPS.
Shares of Primoris Services (NASDAQ:PRIM) opened at $26.11 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.46 and a current ratio of 1.55. The company has a market cap of $1,340.00, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 1.71 and a beta of 1.27. Primoris Services has a one year low of $21.83 and a one year high of $30.00.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Wednesday, March 28th. Primoris Services’s dividend payout ratio is 19.67%.
In related news, CFO Peter J. Moerbeek purchased 3,195 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average cost of $20.87 per share, with a total value of $66,679.65. Following the acquisition, the chief financial officer now owns 28,863 shares of the company’s stock, valued at $602,370.81. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Schauerman sold 50,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $28.00, for a total transaction of $1,400,000.00. The disclosure for this sale can be found here. Insiders have acquired a total of 16,327 shares of company stock worth $340,744 over the last ninety days. Insiders own 24.00% of the company’s stock.
Several large investors have recently modified their holdings of PRIM. Northern Trust Corp boosted its holdings in shares of Primoris Services by 0.3% in the 2nd quarter. Northern Trust Corp now owns 516,190 shares of the construction company’s stock worth $12,874,000 after buying an additional 1,657 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Primoris Services by 10.6% in the 2nd quarter. Voya Investment Management LLC now owns 20,044 shares of the construction company’s stock worth $500,000 after buying an additional 1,927 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Primoris Services by 449.9% in the 2nd quarter. Royal Bank of Canada now owns 8,694 shares of the construction company’s stock worth $217,000 after buying an additional 7,113 shares during the last quarter. State Street Corp boosted its holdings in shares of Primoris Services by 6.4% in the 2nd quarter. State Street Corp now owns 766,590 shares of the construction company’s stock worth $19,115,000 after buying an additional 45,858 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Primoris Services by 8.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,238 shares of the construction company’s stock worth $106,000 after buying an additional 320 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.
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Primoris Services 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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