Primoris Services (NYSE:PRIM) Sets New 52-Week Low Following Analyst Downgrade

Shares of Primoris Services Corporation (NYSE:PRIM) hit a new 52-week low during trading on Thursday after Oppenheimer lowered their price target on the stock from $135.00 to $115.00. Oppenheimer currently has an outperform rating on the stock. Primoris Services traded as low as $60.40 and last traded at $60.0740, with a volume of 251,088 shares traded. The stock had previously closed at $68.45.

A number of other equities analysts also recently commented on PRIM. Jefferies Financial Group reissued a “buy” rating and issued a $99.00 target price on shares of Primoris Services in a research note on Thursday, October 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $105.00 price target on shares of Primoris Services in a report on Tuesday, September 29th. Roth Capital restated a “buy” rating and set a $100.00 price objective on shares of Primoris Services in a report on Monday, July 20th. Zacks Research raised Primoris Services from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Finally, Piper Sandler initiated coverage on Primoris Services in a research note on Wednesday, September 9th. They set a “neutral” rating and a $90.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.00.

Key Stories Impacting Primoris Services

Here are the key news stories impacting Primoris Services this week:

• Positive Sentiment: Primoris reported Q3 EPS of $1.20, above the consensus estimate. Management also expects Energy segment margins to recover to 10%–12% in 2027, which could support a later improvement in profitability. Q3 earnings beat Energy margins and 2027 outlook
• Neutral Sentiment: The company announced a quarterly dividend of $0.08 per share, or $0.32 annualized. The modest payout offers some income but is unlikely to offset concerns about the outlook.
• Negative Sentiment: Q3 revenue of $1.95 billion missed estimates of $2 billion and fell 10.4% year over year; EPS also declined from $1.88 a year ago. Primoris reset its 2026 EPS guidance to $1.20–$1.35, a key concern for investors weighing the earnings beat. Q3 sales and earnings report 2026 guidance reset
• Negative Sentiment: Analysts lowered price targets: Oppenheimer cut its target to $115 while retaining an outperform rating, and Needham reduced its target to $110. Cantor Fitzgerald maintained a hold rating. Target cuts can reinforce concerns about near-term earnings prospects even where ratings remain supportive. Oppenheimer target update Needham target update Cantor Fitzgerald rating

Institutional Investors Weigh In On Primoris Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE bought a new position in Primoris Services in the 2nd quarter valued at about $17,268,000. Royal Bank of Canada increased its stake in Primoris Services by 79.7% during the 1st quarter. Royal Bank of Canada now owns 55,614 shares of the company’s stock valued at $7,955,000 after buying an additional 24,672 shares during the period. Kayne Anderson Capital Advisors LP bought a new stake in shares of Primoris Services during the 2nd quarter worth about $2,514,000. Raiffeisen Bank International AG raised its position in shares of Primoris Services by 904.8% during the 2nd quarter. Raiffeisen Bank International AG now owns 198,000 shares of the company’s stock worth $19,254,000 after buying an additional 178,294 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of Primoris Services by 34.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 452,306 shares of the company’s stock worth $33,706,000 after buying an additional 114,640 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors.

Primoris Services Trading Down 14.8%

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 32.92 and a beta of 1.44. The business’s 50 day moving average price is $75.15 and its two-hundred day moving average price is $112.20.

Primoris Services (NYSE:PRIM) last announced its earnings results on Tuesday, November 3rd. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.81 by $0.39. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2 billion. Primoris Services had a return on equity of 7.60% and a net margin of 1.36%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.88 earnings per share. Equities analysts forecast that Primoris Services Corporation will post 1.77 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, December 31st. Primoris Services’s payout ratio is currently 12.55%.

About Primoris Services

Primoris Services Corporation (NYSE: PRIM) is a specialty contractor that provides construction, engineering, maintenance and fabrication services for critical infrastructure. The company serves customers in the energy, utilities and industrial markets, with work spanning power generation, power delivery, natural gas, renewable energy, petrochemical and industrial facilities.

Its services include utility and transmission construction, renewable energy development support, underground and overhead infrastructure, pipeline construction, facility maintenance, environmental services and specialty industrial construction.