FY2027 EPS Estimate for Primoris Services Lowered by Analyst

Primoris Services Corporation (NYSE:PRIM) – Analysts at KeyCorp decreased their FY2027 EPS estimates for shares of Primoris Services in a research note issued to investors on Monday, June 22nd. KeyCorp analyst S. Jain now anticipates that the company will post earnings per share of $5.09 for the year, down from their prior forecast of $5.87. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Primoris Services’ current full-year earnings is $4.55 per share.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The company’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Primoris Services in a research report on Tuesday, June 9th. DA Davidson set a $180.00 price objective on Primoris Services in a research report on Wednesday, February 25th. Weiss Ratings cut Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Zacks Research cut Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Guggenheim reissued a “buy” rating and issued a $162.00 target price on shares of Primoris Services in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.33.

Primoris Services Price Performance

Shares of NYSE PRIM opened at $92.33 on Thursday. The company has a 50 day simple moving average of $127.66 and a two-hundred day simple moving average of $137.91. Primoris Services has a fifty-two week low of $65.00 and a fifty-two week high of $205.50. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 20.34 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28.

Primoris Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 annualized dividend and a yield of 0.3%. Primoris Services’s payout ratio is 7.05%.

Insider Activity at Primoris Services

In other news, Director David Lee King sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the sale, the director owned 14,941 shares in the company, valued at $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the sale, the insider directly owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This trade represents a 51.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Primoris Services

Several institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB bought a new stake in Primoris Services in the 4th quarter worth about $7,181,000. New York State Teachers Retirement System boosted its holdings in shares of Primoris Services by 327.8% during the 4th quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock valued at $2,594,000 after acquiring an additional 16,008 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Primoris Services by 509.6% during the 4th quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock valued at $41,800,000 after acquiring an additional 281,482 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Primoris Services by 2,338.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock worth $39,033,000 after acquiring an additional 301,532 shares during the period. Finally, UBS Group AG raised its holdings in shares of Primoris Services by 2.4% during the fourth quarter. UBS Group AG now owns 638,876 shares of the company’s stock valued at $79,310,000 after purchasing an additional 15,112 shares during the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Primoris Services

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

• Positive Sentiment: Guggenheim reiterated a Buy rating and a $162 price target, suggesting meaningful upside if execution improves.
• Neutral Sentiment: KeyCorp kept a Sector Weight rating but lowered FY2027 EPS estimates to $5.09 from $5.87, reflecting a more cautious longer-term outlook.
• Neutral Sentiment: Mizuho cut its price target to $117 from $135 while keeping an Outperform rating, indicating analyst support remains but expectations have been reset.
• Negative Sentiment: Primoris cut FY2026 EPS guidance to $2.05-$2.60, a major reset from earlier expectations and a key reason for the stock’s decline.
• Negative Sentiment: The company disclosed additional challenges and cost overruns in its renewables projects, raising concerns about margins and project execution. Article Title
• Negative Sentiment: COO Jeremy Kinch abruptly departed, adding to uncertainty around operations and near-term leadership stability. Article Title
• Negative Sentiment: Multiple law firms launched securities-fraud investigations and shareholder alerts, which can further weigh on sentiment and amplify volatility.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. 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. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.