Primoris Services Co. Plans Quarterly Dividend of $0.08 (NASDAQ:PRIM)

Primoris Services Co. (NASDAQ:PRIM) announced a quarterly dividend on Monday, November 3rd. Investors of record on Wednesday, December 31st will be paid a dividend of 0.08 per share by the construction company on Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, December 31st.

Primoris Services has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 1 years. Primoris Services has a payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Primoris Services to earn $4.05 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.9%.

Primoris Services Stock Performance

Shares of NASDAQ:PRIM traded down $9.58 on Tuesday, reaching $133.70. The company’s stock had a trading volume of 912,071 shares, compared to its average volume of 903,179. The stock’s 50-day moving average is $130.70 and its two-hundred day moving average is $99.16. Primoris Services has a 52-week low of $49.10 and a 52-week high of $146.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $7.22 billion, a P/E ratio of 44.27 and a beta of 1.43.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, November 3rd. The construction company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.37 by $0.51. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.83 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.22 earnings per share. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. As a group, sell-side analysts forecast that Primoris Services will post 3.26 EPS for the current year.

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.