Primoris Services Corporation (PRIM) to Issue Quarterly Dividend of $0.08 on April 15th

Primoris Services Corporation (NYSE:PRIM) announced a quarterly dividend on Tuesday, February 17th. Stockholders of record on Tuesday, March 31st will be given a dividend of 0.08 per share on Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 31st.

Primoris Services has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Primoris Services has a dividend payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings.

Primoris Services Stock Up 2.2%

Shares of Primoris Services stock opened at $143.67 on Friday. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 28.56 and a beta of 1.36. The business’s fifty day simple moving average is $149.73. Primoris Services has a fifty-two week low of $49.10 and a fifty-two week high of $174.43. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM) last released its quarterly earnings data on Monday, February 23rd. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 EPS. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Analyst Ratings Changes

PRIM has been the topic of several research reports. UBS Group raised their price objective on Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Cantor Fitzgerald set a $160.00 price target on shares of Primoris Services and gave the company a “neutral” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. lifted their price objective on Primoris Services from $143.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Primoris Services in a research note on Tuesday, January 20th. Finally, Wall Street Zen downgraded Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $153.20.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.