EPS of $0.10 expected for Primoris Services Co. (NASDAQ:PRIM) this quarter

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Stock analysts expect Primoris Services Co. (NASDAQ:PRIMGet a rating) will show earnings per share (EPS) of $0.10 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have released earnings estimates for Primoris Services, with estimates ranging from $0.00 to $0.20. Primoris Services reported earnings of $0.32 per share in the same quarter last year, suggesting a negative year-over-year growth rate of 68.8%. The company is expected to release its next quarterly earnings report after the market closes on Monday, January 1.

On average, analysts expect Primoris Services to report annual earnings of $2.37 per share for the current fiscal year, with EPS estimates ranging from $2.24 to $2.49. For the next fiscal year, analysts expect the company to report earnings of $2.64 per share, with EPS estimates ranging from $2.50 to $2.78. Zacks Investment Research’s earnings per share calculations are an average average based on a survey of analysts who cover Primoris Services.

Primoris Services (NASDAQ:PRIMGet a rating) last announced its quarterly results on Monday, February 28. The construction company reported EPS of $0.63 for the quarter, beating Thomson Reuters consensus estimate of $0.53 by $0.10. Primoris Services achieved a return on equity of 14.21% and a net margin of 3.31%. The company posted revenue of $884.45 million for the quarter, versus analyst estimates of $899.46 million. In the same quarter of the previous year, the company achieved EPS of $0.66. Primoris Services quarterly revenue decreased 1.4% year-over-year.

A number of equity research analysts have recently commented on PRIM shares. Zacks Investment Research downgraded Primoris Services from a “hold” rating to a “sell” rating in a Tuesday, April 5 report. StockNews.com began covering Primoris services in a research report on Thursday, March 31. They set a “holding” rating for the company. Morgan Stanley cut its price target on Primoris Services from $35.00 to $33.00 and set an “overweight” rating for the company in a Wednesday, March 23 research report. Finally, DA Davidson reiterated a “buy” rating on Primoris Services shares in a Wednesday, March 2 research note. Two research analysts gave the stock a sell rating, one gave the company a hold rating and three gave the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.75.

PRIM action opened at $23.18 on Wednesday. The company has a market capitalization of $1.24 billion, a P/E ratio of 10.83 and a beta of 1.13. Primoris Services has a 12-month low of $21.47 and a 12-month high of $34.02. The company has a quick ratio of 1.56, a current ratio of 1.56 and a leverage ratio of 0.60. The company has a fifty-day moving average of $25.46 and a 200-day moving average of $25.50.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 14. Shareholders of record on Thursday, March 31 received a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 30. This represents a dividend of $0.24 on an annualized basis and a dividend yield of 1.04%. The dividend payout ratio (DPR) of Primoris Services is currently 11.22%.

In other news, director David Lee King sold 20,000 shares in a trade that took place on Tuesday, March 15. The stock was sold at an average price of $26.51, for a total transaction of $530,200.00. The sale was disclosed in an SEC filing, available at the SEC website. 1.40% of the shares are currently held by insiders of the company.

Several hedge funds and other institutional investors have recently changed their positions in PRIM. Point72 Hong Kong Ltd increased its stake in Primoris Services shares by 55.8% during the fourth quarter. Point72 Hong Kong Ltd now owns 4,133 shares in the construction company worth $99,000 after buying an additional 1,481 shares during the period. UBS Group AG increased its position in Primoris Services by 45.5% during the third quarter. UBS Group AG now owns 4,029 shares of the construction company worth $99,000 after buying an additional 1,260 shares last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Primoris Services by 32.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,045 shares of the construction company worth $193,000 after buying an additional 1,975 shares last quarter. PNC Financial Services Group Inc. increased its position in Primoris Services by 9.8% during the third quarter. PNC Financial Services Group Inc. now owns 8,284 shares of the construction company worth $203,000 after buying 739 additional shares last quarter. Finally, the Royal Bank of Canada increased its position in Primoris Services by 30.0% during the third quarter. Royal Bank of Canada now owns 8,288 shares of the construction company worth $203,000 after buying 1,914 more shares last quarter. Institutional investors hold 87.37% of the company’s shares.

About Primoris Services (Get a rating)

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 communication systems.

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