Equities research analysts expect Primoris Services Corp (NASDAQ:PRIM) to post sales of $771.60 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Primoris Services’ earnings. The highest sales estimate is $845.00 million and the lowest is $698.20 million. Primoris Services posted sales of $608.31 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.8%. The firm is scheduled to announce its next earnings report on Monday, November 5th.

On average, analysts expect that Primoris Services will report full year sales of $2.67 billion for the current year, with estimates ranging from $2.55 billion to $2.79 billion. For the next financial year, analysts anticipate that the business will report sales of $2.99 billion per share, with estimates ranging from $2.77 billion to $3.22 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Primoris Services.

Primoris Services (NASDAQ:PRIM) last released its earnings results on Tuesday, August 7th. The construction company reported $0.31 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. Primoris Services had a return on equity of 8.23% and a net margin of 2.37%. The company had revenue of $648.79 million for the quarter, compared to analysts’ expectations of $593.65 million.

Several equities analysts have weighed in on PRIM shares. ValuEngine cut Primoris Services from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub raised Primoris Services from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 12th. Zacks Investment Research raised Primoris Services from a “sell” rating to a “hold” rating in a research note on Thursday, May 31st. Finally, DA Davidson boosted their price target on Primoris Services to $34.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $31.00.

In related news, VP John M. Perisich sold 9,055 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $25.14, for a total value of $227,642.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Pratt sold 53,037 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $25.00, for a total value of $1,325,925.00. Following the completion of the sale, the director now owns 7,838,661 shares of the company’s stock, valued at $195,966,525. The disclosure for this sale can be found here. In the last three months, insiders sold 612,164 shares of company stock valued at $16,179,409. 19.50% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. acquired a new stake in Primoris Services in the 1st quarter worth approximately $107,000. SG Americas Securities LLC acquired a new stake in Primoris Services in the 1st quarter worth approximately $118,000. Element Capital Management LLC acquired a new stake in Primoris Services in the 1st quarter worth approximately $221,000. Verition Fund Management LLC acquired a new stake in Primoris Services in the 1st quarter worth approximately $222,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in Primoris Services in the 1st quarter worth approximately $253,000. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Primoris Services traded up $0.27, hitting $25.64, on Tuesday, Marketbeat.com reports. 227,450 shares of the company’s stock traded hands, compared to its average volume of 185,620. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.55 and a quick ratio of 1.58. Primoris Services has a 1 year low of $23.61 and a 1 year high of $30.00. The stock has a market cap of $1.31 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.56 and a beta of 1.12.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a $0.06 dividend. The ex-dividend date is Thursday, September 27th. This represents a $0.24 annualized dividend and a dividend yield of 0.94%. Primoris Services’s payout ratio is 20.87%.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services in the United States and internationally. It operates through Power, Pipeline, Utilities, and Civil segments.

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Earnings History and Estimates for Primoris Services (NASDAQ:PRIM)

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