Primoris Services (PRIM) Issues FY 2018 Earnings Guidance

Primoris Services (NASDAQ:PRIM) updated its FY 2018 earnings guidance on Tuesday. The company provided EPS guidance of $1.50-1.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.42. Primoris Services also updated its FY18 guidance to $1.50-1.70 EPS.

A number of analysts recently issued reports on the company. Zacks Investment Research raised Primoris Services from a sell rating to a hold rating in a research report on Wednesday, July 11th. BidaskClub cut Primoris Services from a strong-buy rating to a buy rating in a research report on Thursday, July 26th. Finally, ValuEngine cut Primoris Services from a buy rating to a hold rating in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $30.75.

PRIM traded up $0.63 on Wednesday, hitting $24.26. 13,045 shares of the company traded hands, compared to its average volume of 189,131. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.61. The company has a market cap of $1.15 billion, a PE ratio of 20.91, a P/E/G ratio of 1.45 and a beta of 1.24. Primoris Services has a 12-month low of $20.79 and a 12-month high of $28.96.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The firm had revenue of $908.90 million during the quarter, compared to the consensus estimate of $789.90 million. Primoris Services had a return on equity of 8.23% and a net margin of 2.37%. The firm’s revenue was up 49.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 EPS. As a group, sell-side analysts expect that Primoris Services will post 1.54 EPS for the current fiscal year.

In other news, Director Stephen C. Cook sold 1,964 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $25.00, for a total transaction of $49,100.00. Following the completion of the transaction, the director now directly owns 11,897 shares of the company’s stock, valued at approximately $297,425. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brian Pratt sold 725,003 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $25.14, for a total value of $18,226,575.42. Following the transaction, the director now directly owns 6,946,451 shares of the company’s stock, valued at $174,633,778.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 734,833 shares of company stock valued at $18,475,786. 19.50% of the stock is owned by company insiders.

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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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