Primoris Services Corp (NYSE: PRIM) has reported E.P.S. of $0.92 for its second fiscal quarter (ending June 30) versus $0.73 for the same period a year ago — an increase of 26%. Relative to the consensus estimate of $0.86, this was a premium of $0.06. For the latest four quarters through June 30, E.P.S. were $2.89 versus $2.35 for the same period a year ago — an increase of 23%.
Recent Price Action
Primoris Services Corp (NYSE: PRIM) stock closed at $48.03 on 8/5/24 after a decline of -5.0%. Moreover, trading volume in this decline was unusually high at 159% of normal. The stock has been exceptionally strong relative to the market over the last nine months but has declined -14.5% during the last week.
Current PriceTarget Research Rating
PRIM is expected to continue to be a Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Primoris Services has a current Value Trend Rating of A (Highest Rating). This rating combines complementary signals from two proprietary PTR measures of a stock’s attractiveness. Primoris Services has a slightly positive Appreciation Score of 63 and a very high Power Rating of 100, resulting in the Highest Value Trend Rating.
Rating Review
In light of this encouraging new earnings information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
Be the first to comment