Primoris Services (PRIM) to Release Quarterly Earnings on Monday

Primoris Services (NASDAQ:PRIM) will announce its earnings results after the market closes on Monday, August 5th. Analysts expect the company to announce earnings of $0.65 per share for the quarter. Primoris Services has set its FY24 guidance at $3.05-3.25 EPS and its FY 2024 guidance at 3.050-3.250 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Wednesday, May 8th. The construction company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.39. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Primoris Services had a net margin of 2.45% and a return on equity of 14.13%. Primoris Services’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. On average, analysts expect Primoris Services to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Primoris Services Stock Down 5.8 %

NASDAQ PRIM opened at $50.54 on Friday. The stock has a market capitalization of $2.71 billion, a P/E ratio of 19.07 and a beta of 1.08. Primoris Services has a 52 week low of $28.96 and a 52 week high of $57.72. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a fifty day moving average of $52.73 and a 200-day moving average of $45.65.

Insider Buying and Selling

In other Primoris Services news, Director David Lee King sold 2,500 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $52.86, for a total transaction of $132,150.00. Following the transaction, the director now directly owns 27,517 shares in the company, valued at approximately $1,454,548.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Carla S. Mashinski sold 3,883 shares of Primoris Services stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $53.92, for a total transaction of $209,371.36. Following the completion of the sale, the director now directly owns 20,454 shares of the company’s stock, valued at $1,102,879.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David Lee King sold 2,500 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $52.86, for a total value of $132,150.00. Following the completion of the transaction, the director now directly owns 27,517 shares in the company, valued at approximately $1,454,548.62. The disclosure for this sale can be found here. Insiders sold a total of 54,831 shares of company stock worth $2,807,646 over the last three months. 1.40% of the stock is currently owned by company insiders.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. 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.