Primoris Services (NYSE:PRIM – Free Report) had its target price trimmed by Needham & Company LLC from $205.00 to $188.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.
Other analysts have also recently issued reports about the stock. UBS Group upped their price target on shares of Primoris Services from $176.00 to $212.00 and gave the company a “buy” rating in a report on Monday, May 4th. Weiss Ratings cut shares of Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. 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. KeyCorp cut their price target on shares of Primoris Services from $179.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Guggenheim upped their price target on shares of Primoris Services from $184.00 to $195.00 and gave the company a “buy” rating in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $160.87.
Read Our Latest Analysis on PRIM
Primoris Services Price Performance
Primoris Services (NYSE:PRIM – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The company’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities research analysts forecast that Primoris Services will post 5.73 earnings per share for the current fiscal year.
Primoris Services Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services’s dividend payout ratio is currently 7.05%.
Hedge Funds Weigh In On Primoris Services
Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. grew its position in Primoris Services by 224.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock valued at $29,000 after buying an additional 148 shares in the last quarter. Root Financial Partners LLC grew its position in Primoris Services by 43.1% in the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Primoris Services in the 3rd quarter valued at about $37,000. Harbour Investments Inc. bought a new position in Primoris Services in the 4th quarter valued at about $33,000. Finally, Richardson Financial Services Inc. grew its position in Primoris Services by 163.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 321 shares of the company’s stock valued at $44,000 after buying an additional 199 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.
Key Stories Impacting Primoris Services
Here are the key news stories impacting Primoris Services this week:
- Positive Sentiment: Premier PV, a Primoris Services subsidiary, said it reached $55 million in backlog, signaling continued project demand and potential future revenue. Article: Premier PV, a Primoris Services Corporation Company, Reaches $55 Million in Backlog
- Neutral Sentiment: Needham lowered its price target on Primoris from $205 to $188 but kept a Buy rating, suggesting analysts still see meaningful upside despite recent weakness.
- Neutral Sentiment: Wells Fargo cut its price target from $168 to $118 and maintained an Equal Weight rating, reflecting a more cautious near-term view while still implying some upside from current levels.
- Neutral Sentiment: Recent commentary on valuation after weak Q1 results and lower profit guidance highlights that the stock may now be trading on reduced expectations rather than growth momentum. Article: A Look At Primoris Services (PRIM) Valuation After Weak Q1 2026 Results And Lower Profit Guidance
- Negative Sentiment: Primoris reported Q1 revenue of $1.6 billion, which was down year over year, and the company’s earnings miss plus lowered guidance prompted a sharp re-rating of the stock. Article: Primoris Services Corporation Q1 2026 Earnings Call Summary
- Negative Sentiment: Multiple law firms announced investigations into possible securities-law violations at Primoris, adding an overhang that can pressure investor sentiment. Article: INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Primoris Services Corporation – PRIM Article: Primoris Services Corp. Investigated for Securities Fraud; Investors Should Contact Block & Leviton to Possibly Recover Losses
About Primoris Services
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.
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