Ultime notizie per Primoris Services (NYSE:PRIM) Azioni

Primoris Services

Primoris Services Corp is a provider of infrastructure services operating mainly in the United States and Canada. It provides a wide range of construction services, maintenance, replacement, fabrication and engineering services to a diversified base of customers. The reportable segments are Utilities segment and the Energy segment. The Utilities segment operates in a range of services, including the installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems, and communication systems. The Energy segment operates in a range of services that include engineering, procurement, and construction, retrofits, highway and bridge construction, demolition, site work, outages, pipeline construction and maintenance and others.

Primoris Services Corporation Common Stock

Primoris Services Corp

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DA Davidson analyst Brent Thielman maintains Primoris Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NYSE">PRIM</a>) with a Buy and raises the price target from $60 to $85.

News

Price Target

Analyst Ratings

PRIM

DA Davidson Maintains Buy on Primoris Services, Raises Price Target to $85

Goldman Sachs analyst Jerry Revich maintains Primoris Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NYSE">PRIM</a>) with a Neutral and raises the price target from $51 to $78.

Goldman Sachs Maintains Neutral on Primoris Services, Raises Price Target to $78

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Primoris Services shares are trading higher after the company reported better-than-expected Q3 financial results and raised its FY24 adjusted EPS guidance above estimates.

U.S. stocks were higher, with the Dow Jones index gaining around 300 points on Tuesday.
Shares of Emerson Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) rose sharply during Monday's session after the company reported better-than-expected fourth-quarter financial results and issued FY25 adjusted EPS guidance above estimates. Also, the company announced it increased return of capital to shareholders with plans to repurchase <a href="https://www.benzinga.com/news/earnings/24/11/41748679/emerson-electric-gains-on-q4-earnings-beat-and-fy25-growth-forecast-eyes-aspentech-buyout">approximately $2B in FY25.</a>
Net sales growth of 13% year over year to $4.62 billion, beating the consensus of $4.57 billion. Underlying sales were up 4%, and underlying orders increased by 2% in the quarter. Adjusted EPS improved 15% to $1.48, beating the consensus of $1.47.
Emerson Electric shares jumped 6.6% to $117.01 on Tuesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Vimeo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMEO#NASDAQ">VMEO</a>) shares jumped 42.7% to $6.86 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter sales guidance above estimates.</li>
<li>Gogo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) gained 29.3% to $8.47 after the company reported better-than-expected third-quarter financial results.</li>
<li>Astera Labs Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) rose 29.1% to $90.14 after the company reported better-than-expected third-quarter EPS and sales.</li>
<li>Aris Water Solutions Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARIS#NYSE">ARIS</a>) gained 25.8% to $20.84 following strong quarterly results.</li>
<li>Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) gained 22.4% to $50.70 after the company reported better-than-expected third-quarter financial results and issued guidance above consensus estimates.</li>
<li>UFP Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFPT#NASDAQ">UFPT</a>) rose 20.7% to $335.00 after the company reported better-than-expected third-quarter financial results.</li>
<li>Lindblad Expeditions Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIND#NASDAQ">LIND</a>) gained 20.6% to $11.28 after the company reported better-than-expected third-quarter financial results.</li>
<li>DXP Enterprises Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXPE#NASDAQ">DXPE</a>) gained 18.7% to $60.45 following strong quarterly results.</li>
<li>Century Aluminum Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) gained 17.7% to $20.66 following upbeat quarterly earnings.</li>
<li>Payoneer Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYO#NASDAQ">PAYO</a>) climbed 16% to $9.88 after the company reported better-than-expected quarterly EPS and sales and raised its FY24 revenue guidance.</li>
<li>Cushman &amp; Wakefield PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CWK#NYSE">CWK</a>) gained 13.2% to $14.88 after the company reported better-than-expected quarterly adjusted EPS results.</li>
<li>Ingredion Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INGR#NYSE">INGR</a>) rose 12.6% to $150.97 following upbeat earnings.</li>
<li>Primoris Services Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NYSE">PRIM</a>) gained 10.5% to $71.11 following strong quarterly earnings.</li>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) rose 9.1% to $293.34.</li>
<li>Cummins Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) gained 8.7% to $353.91 after the company reported better-than-expected third-quarter financial results.</li>
<li>Nomura Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NMR#NYSE">NMR</a>) rose 7.3% to $5.64 following second-quarter results.</li>
<li>Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) gained 6.8% to $149.00 after the company reported better-than-expected quarterly financial results.</li>
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Emerson Electric Posts Better-Than-Expected Results, Joins Palantir Technologies, DXP Enterprises, Cummins, Apollo Global Management And Other Big Stocks Moving Higher On Tuesday

Primoris Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NYSE">PRIM</a>) raises FY2024 Adj EPS guidance from $3.25-3.45 to $3.40-3.55 vs $3.33 analyst estimate..

Guidance

Primoris Services Raises FY2024 Adj EPS Guidance from $3.25-3.45 to $3.40-3.55 vs $3.33 Est

Primoris Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NASDAQ">PRIM</a>) reported quarterly earnings of $1.22 per share which beat the analyst consensus estimate of $1.02 by 19.61 percent. This is a 19.61 percent increase over earnings of $1.02 per share from the same period last year. The company reported quarterly sales of $1.65 billion which beat the analyst consensus estimate of $1.58 billion by 4.37 percent. This is a 7.85 percent increase over sales of $1.53 billion the same period last year.

Earnings

Earnings Beats

Primoris Services Q3 Adj $1.22 Beats $1.02 Estimate, Sales $1.65B Beat $1.58B Estimate

UBS analyst Steven Fisher maintains Primoris Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NYSE">PRIM</a>) with a Buy and raises the price target from $69 to $75.

UBS Maintains Buy on Primoris Services, Raises Price Target to $75

JP Morgan analyst Drew Chamberlain initiates coverage on Primoris Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NYSE">PRIM</a>) with a Overweight rating and announces Price Target of $71.

Initiation

JP Morgan Initiates Coverage On Primoris Services with Overweight Rating, Announces Price Target of $71

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Shares of building and construction-related stocks are trading lower after July construction spending data missed estimates. The sector may be moving lower amid overall market weakness after August's ISM Manufacturing PMI data indicated an economic contraction.

Premier PV, A Primoris Services Corporation Company, Reaches Over $55M In Backlog, Offering Comprehensive Electrical Balance Of Systems Solutions For Utility-Scale Solar And Energy Storage Markets

Primoris Services Sees FY24 Adj. EPS $3.25-$3.45 Vs $2.94n Est.; Net Income $148.5M-$159.5M

Primoris Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NASDAQ">PRIM</a>) reported quarterly earnings of $1.04 per share which beat the analyst consensus estimate of $0.79 by 31.65 percent. This is a 30 percent increase over earnings of $0.80 per share from the same period last year. The company reported quarterly sales of $1.564 billion which beat the analyst consensus estimate of $1.537 billion by 1.78 percent. This is a 10.69 percent increase over sales of $1.413 billion the same period last year.

Primoris Services Q2 2024 Adj. EPS $1.04 Beats $0.79 Estimate, Sales $1.564B Beat $1.537B Estimate

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Shares of companies within the broader industrial sector are trading lower amid overall market weakness on US economic concerns. An economic slowdown could impact demand.

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Shares of companies within the broader industrial sector are trading lower amid overall market weakness following weak US data.

Primoris Services Secures $1.2B In Awards For Energy Segment; $700M Contracted In Q2 2024 And Over $500M In Early Q3 2024; Projects Include $1.1B For Utility-Scale Solar Engineering, Procurement, And Construction, Plus $100M For Expansion Of Combustion Gas Turbine Generators

Primoris Services shares are trading higher following a Q1 earnings beat and strong FY24 guidance.

Outlook
The Company is maintaining its estimates for the year ending December 31, 2024. Earnings per Share ("EPS") is expected to be between $2.50 and $2.70 per fully diluted share. Adjusted EPS is estimated in the range of $3.05 to $3.25, and Adjusted EBITDA for the full year 2024 is expected to range from $395 to $415 million.
The Company is targeting SG&amp;A expense as a percentage of revenue in the low six percent range for full year 2024. The Company's targeted gross margins by segment are as follows: Utilities in the range of 9 to 11 percent; Energy in the range of 10 to 12 percent. The Company expects its effective tax rate for 2024 to be similar to 2023 at approximately 29 percent but it may vary depending on the mix of states in which the Company operates.

Primoris Services Sees FY24 EPS $3.05-$3.25 Vs $2.76 Est.;  Adjusted EBITDA Expected To Range From $395M-$415MA

Primoris Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NASDAQ">PRIM</a>) reported quarterly earnings of $0.47 per share which beat the analyst consensus estimate of $0.14 by 235.71 percent. This is a 161.11 percent increase over earnings of $0.18 per share from the same period last year. The company reported quarterly sales of $1.413 billion which beat the analyst consensus estimate of $1.380 billion by 2.39 percent. This is a 12.42 percent increase over sales of $1.257 billion the same period last year.

Primoris Services Q1 2024 Adj EPS $0.47 Beats $0.14 Estimate, Sales $1.413B Beat $1.380B Estimate

UBS analyst Steven Fisher maintains Primoris Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NYSE">PRIM</a>) with a Buy and raises the price target from $44 to $63.

UBS Maintains Buy on Primoris Services, Raises Price Target to $63

Across the recent three months, 4 analysts have shared their insights on Primoris Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NYSE">PRIM</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Primoris Services, presenting an average target of $45.25, a high estimate of $55.00, and a low estimate of $38.00. Surpassing the previous average price target of $39.25, the current average has increased by 15.29%.
<img src="https://www.benzinga.com/files/images/story/2024/1712246443_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
A clear picture of Primoris Services's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jerry Revich</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$43.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Brent Thielman</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Buy</td>
<td>$55.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Jerry Revich</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$38.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Brent Thielman</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Buy</td>
<td>$45.00</td>
<td>$40.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Primoris Services. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Primoris Services compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Primoris Services's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Primoris Services's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PRIM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Primoris Services analyst ratings.</a>
<h2>Discovering Primoris Services: A Closer Look</h2>
Primoris Services Corp is a provider of infrastructure services operating mainly in the United States and Canada. It provides a wide range of construction services, maintenance, replacement, fabrication and engineering services to a diversified base of customers. The reportable segments are Utilities segment and the Energy segment. The Utilities segment operates in a range of services, including the installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems, and communication systems. The Energy segment operates in a range of services that include engineering, procurement, and construction, retrofits, highway and bridge construction, demolition, site work, outages, pipeline construction and maintenance and others.
<h3>Understanding the Numbers: Primoris Services's Finances</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Primoris Services's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 14.03% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Industrials sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 2.48%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Primoris Services's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 3.1%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Primoris Services's ROA stands out, surpassing industry averages. With an impressive ROA of 0.99%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.07, caution is advised due to increased financial risk.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

4 Analysts Have This To Say About Primoris Services

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Primoris raises FY24 EPS view to $3.40-$3.55 from $3.25-$3.45, consensus $3.33

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Primoris Services Non-GAAP EPS of $1.22 beats by $0.19, revenue of $1.64B beats by $50M

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D.A. Davidson Sticks to Their Buy Rating for Primoris Services (PRIM)

Primoris Services raises dividend by 33.3% to $0.08

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DA Davidson analyst Brent Thielman raised the firm's price target on Primoris (PRIM) to $85 from $60 and keeps a Buy rating on the shares. The comp...

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AMRC

Press Releases

Primoris Services Corporation to Host 2024 Investor Day

Primoris Services Corporation Schedules First Quarter 2024 Earnings Conference Call and Webcast

Primoris Services Corporation Reports First Quarter 2024 Results

Primoris Services Corporation Receives Project Awards Valued at Approximately $1.2 Billion

Primoris Services Corporation Schedules Second Quarter 2024 Earnings Conference Call and Webcast

Primoris Services Corporation Reports Second Quarter 2024 Results

Premier PV, a Primoris Services Corporation Company, Reaches $55 Million in Backlog

Primoris Services Corporation to Participate in Investor Conferences

Primoris Services Corporation Schedules Third Quarter 2024 Earnings Conference Call and Webcast

Primoris Services Corporation Reports Third Quarter 2024 Results

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