Brokerages Anticipate Primoris Services Corp (PRIM) Will Announce Quarterly Sales of $747.60 Million
Equities research analysts expect Primoris Services Corp (NASDAQ:PRIM) to announce $747.60 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Primoris Services’ earnings. The lowest sales estimate is $740.00 million and the highest is $755.20 million. Primoris Services reported sales of $648.79 million during the same quarter last year, which suggests a positive year-over-year growth rate of 15.2%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, August 6th.
On average, analysts expect that Primoris Services will report full-year sales of $3.10 billion for the current financial year, with estimates ranging from $3.04 billion to $3.16 billion. For the next year, analysts expect that the firm will post sales of $3.44 billion, with estimates ranging from $3.35 billion to $3.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Primoris Services.
Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Tuesday, May 7th. The construction company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $661.60 million during the quarter, compared to analyst estimates of $635.80 million. Primoris Services had a return on equity of 13.86% and a net margin of 2.54%. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 earnings per share.
In related news, Director Brian Pratt sold 235,751 shares of the business’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $20.75, for a total value of $4,891,833.25. Following the sale, the director now directly owns 2,162,824 shares in the company, valued at $44,878,598. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 599,274 shares of company stock worth $13,254,452 over the last quarter. 13.80% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. purchased a new stake in shares of Primoris Services in the fourth quarter worth about $47,000. Hilton Capital Management LLC purchased a new stake in shares of Primoris Services in the first quarter worth about $60,000. Advisor Group Inc. lifted its position in shares of Primoris Services by 51.4% in the first quarter. Advisor Group Inc. now owns 3,760 shares of the construction company’s stock worth $78,000 after buying an additional 1,277 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Primoris Services in the fourth quarter worth about $80,000. Finally, First Mercantile Trust Co. lifted its position in shares of Primoris Services by 32.6% in the first quarter. First Mercantile Trust Co. now owns 5,082 shares of the construction company’s stock worth $105,000 after buying an additional 1,250 shares in the last quarter. Institutional investors own 78.11% of the company’s stock.
Shares of NASDAQ PRIM traded up $0.05 during mid-day trading on Friday, reaching $20.30. The company’s stock had a trading volume of 249,900 shares, compared to its average volume of 172,381. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.43. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.67. Primoris Services has a 52 week low of $17.82 and a 52 week high of $28.90.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.06 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.18%. Primoris Services’s dividend payout ratio is currently 14.12%.
About Primoris Services
Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through five segments: Power, Industrial, and Engineering; Pipeline and Underground; Utilities and Distribution; Transmission and Distribution; and Civil.
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