Primoris Services (NASDAQ:PRIM) Issues FY 2024 Earnings Guidance

Primoris Services (NASDAQ:PRIM) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 3.250-3.450 for the period, compared to the consensus estimate of 2.940. The company issued revenue guidance of -.

Primoris Services Stock Performance

NASDAQ PRIM traded up $3.01 on Tuesday, hitting $51.04. The stock had a trading volume of 820,199 shares, compared to its average volume of 573,450. The company’s 50-day moving average is $52.73 and its two-hundred day moving average is $45.83. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 19.28 and a beta of 1.08. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.69. Primoris Services has a one year low of $28.96 and a one year high of $57.72.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.39. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. Primoris Services had a return on equity of 14.13% and a net margin of 2.45%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. On average, analysts expect that Primoris Services will post 2.67 earnings per share for the current year.

Insider Buying and Selling

In other Primoris Services news, Director John P. Schauerman sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $51.92, for a total transaction of $778,800.00. Following the transaction, the director now owns 202,281 shares of the company’s stock, valued at approximately $10,502,429.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Thomas Edward Mccormick sold 10,000 shares of Primoris Services stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $49.47, for a total transaction of $494,700.00. Following the transaction, the chief executive officer now directly owns 60,961 shares of the company’s stock, valued at $3,015,740.67. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John P. Schauerman sold 15,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $51.92, for a total transaction of $778,800.00. Following the completion of the sale, the director now directly owns 202,281 shares of the company’s stock, valued at $10,502,429.52. The disclosure for this sale can be found here. Insiders sold 54,831 shares of company stock valued at $2,807,646 over the last 90 days. 1.40% of the stock is currently owned by company insiders.

About Primoris Services

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.