Primoris Services Corporation (PRIM) Plans $0.06 Quarterly Dividend

Primoris Services Corporation (NASDAQ:PRIM) announced a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Stockholders of record on Friday, September 29th will be given a dividend of 0.055 per share by the construction company on Saturday, October 14th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, September 28th.

Primoris Services Corporation (NASDAQ:PRIM) traded down 0.49% during midday trading on Friday, hitting $26.28. The stock had a trading volume of 127,750 shares. Primoris Services Corporation has a 52 week low of $17.46 and a 52 week high of $29.19. The company has a market cap of $1.35 billion, a PE ratio of 28.60 and a beta of 1.58. The stock’s 50 day moving average price is $25.22 and its 200-day moving average price is $24.24.

Primoris Services Corporation (NASDAQ:PRIM) last issued its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.11. The firm had revenue of $631.20 million for the quarter, compared to analysts’ expectations of $582.82 million. Primoris Services Corporation had a net margin of 2.09% and a return on equity of 11.30%. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. Equities research analysts predict that Primoris Services Corporation will post $1.19 earnings per share for the current year.

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PRIM has been the topic of several research analyst reports. BidaskClub raised shares of Primoris Services Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Zacks Investment Research raised shares of Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Saturday, July 15th. Canaccord Genuity increased their price target on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, TheStreet raised shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a research note on Friday, August 11th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $26.40.

Primoris Services Corporation Company Profile

Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.

Dividend History for Primoris Services Corporation (NASDAQ:PRIM)

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