Primoris Services Corporation (NASDAQ:PRIM) concluded the trading at $27.39 on Friday, January 14 with a rise of 2.47% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $26.73 and 5Y monthly beta was reading 1.26 with its price kept floating in the range of $26.10 and $27.41 on the day. Company’s P/E ratio for the trailing 12 months is 12.16. Considering stock’s 52-week price range provides that PRIM hit a high price of $41.76 and saw its price falling to a low level of $21.47 during that period. Over a period of past 1-month, stock came adding 15.52% in its value.
With its current market valuation of $1.48 billion, Primoris Services Corporation is set to declare its quarterly results on Feb 21, 2022 – Feb 25, 2022. PRIM Stock’s Forward Dividend of 0.24 and its yield of 0.88% are making investors’ thoughts stronger that it could climb further before the company announces its earnings for the current quarter. Analysts are in estimates of $0.54 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to $2.24 for 2021 with estimates of that growing to $2.46 in next year. These estimates are suggesting current year growth of 3.70% for EPS and 9.80% growth next year.
Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $892.94 million. They suggested that in the process company could generate revenue of as low as $870 million which could climb up to $962.99 million to hit a high. The average estimate is representing a decrease of -0.50% in sales growth from that of posted by the company in the same quarter of last year. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $3.51 billion in 2021, which will be 0.60% more from revenue generated by the company last year.
In last 7 days, analysts came adjusting their opinions about stock’s EPS with 1 upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review PRIM stock’s current outlook then short term indicators are assigning it an average of Hold, while medium term indicators are categorizing the stock at an average of 50% Sell. Long term indicators are suggesting an average of Hold for it.
Digging deeper we become aware of the PEG ratio of the PRIM stock which is currently positioned at 1.22. It further provides that stock’s current price level is 11.50% away from its 20-day simple moving average and is 10.56% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 71.30 while volatility remained at 3.70% over the past week which changes to 3.49% when measuring it over the past month. Beta is valued at 1.24, while measure of average true range or ATR is currently at 0.88.
In comparing Primoris Services Corporation (PRIM)’s stock with other industry players reveals that stock’s current price change of 2.47% and that of -10.96% over the past 12 months is in competing position with that of Tutor Perini Corporation (TPC) which saw its stock price raised by 1.38% in the last trading and went through a decrease of -22.95% in past 12-month trading. Industry’s another major player MYR Group Inc. (MYRG) has fall -1.51% down in previous session, but over the past year has faced a rise of 54.78%, while Quanta Services Inc. (PWR) was also down -0.60% however its price remained floating in the green at 40.02% over the same period. Primoris Services Corporation has a P/E ratio of 12.16 against that of Tutor Perini Corporation’s 6.54 while MYR Group Inc. is showing 20.26 for the same. On the other hand, the S&P 500 Index was up 0.08% in the last trading session while the Dow Jones Industrial closed the session lower at -0.56%.
Having a second look at Primoris Services Corporation (NASDAQ:PRIM) provides that stock’s average daily trading volume for 3 months was 366.81K. Number of outstanding shares of the stock stood at 53.77 million.
The percentage of outstanding shares held by the insiders is 0.30% while it is 93.20% for the institutional holders. Addition of 14.22% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.