PRIM Stock Price & Analysis

Primoris Services Corp

PRIM

Primoris Services Corp

57.540

+57.540(+0%)6M

PRIM Stock Price Chart

YTD

PRIM Key Stats

High

57.868

Vol

151.13K

Low

57.000

Amount

8.69M

Open

57.600

VWAP

57.53

Mkt Cap

3.10B

EV/EBITDA(TTM)

8.59

PRIM Company Profile

Primoris Services Corporation is engaged in providing of infrastructure services. The Company provides a range of construction, maintenance, replacement, fabrication, and engineering services to a diversified base of customers through its two segments: Utilities, and Energy. The Utilities segment offers services, including the installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems, and communications systems. The Energy segment operates throughout the United States and Canada and specializes in a range of services that include engineering, procurement, construction, retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, pipeline construction and maintenance, pipeline integrity services, and maintenance services for entities in the renewable energy and energy storage, renewable fuels, and petroleum and petrochemical industries.

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Should I Buy PRIM

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PRIM News Sentiment

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PRIM Fundamental Analysis

buy

Moderate Buy

Buy

Hold

Sell

High

110.00

Averages

95.00

Low

85.00

Analyst

Rating

Action

Price Target

Date

Rating Reason

Jefferies

Julien Dumoulin-Smith

Strong Buy

Initiates

$73

2025-03-11

JP Morgan

Drew Chamberlain

Buy

Maintains

$88 → $90

2025-02-26

JPMorgan

JP Morgan

Drew Chamberlain

Buy

Maintains

$77 → $88

2025-01-28

Guggenheim

Joseph Osha

Strong Buy

Initiates

$102

2025-01-08

Guggenheim

Keybanc

Sangita Jain

Buy

Initiates

$96

2024-12-11

KeyBanc

Analyst	Rating	Action	Price Target	Date	Rating Reason

Jefferies Julien Dumoulin-Smith	Strong Buy	Initiates	$73	2025-03-11
JP Morgan Drew Chamberlain	Buy	Maintains	$88 → $90	2025-02-26	JPMorgan
JP Morgan Drew Chamberlain	Buy	Maintains	$77 → $88	2025-01-28
Guggenheim Joseph Osha	Strong Buy	Initiates	$102	2025-01-08	Guggenheim
Keybanc Sangita Jain	Buy	Initiates	$96	2024-12-11	KeyBanc

PRIM Earnings Analysis

Primoris Services Corporation Corporation (PRIM.N) Q3 2024 Earnings Conference Call

Positive

Record Revenue Growth: Record revenue of over $1.6 billion, an increase of $119.6 million or 7.8% over the prior year, driven primarily by growth in both Energy and Utilities segments.
Energy Revenue Increase: Energy segment revenue increased by $123.1 million or 13.9% from the prior year, primarily driven by solar, partially offset by lower industrial construction activity.
Utilities Segment Profit Increase: Utilities segment gross profit was $87 million, up $22.4 million or 34.6% compared to the prior year, due to revenue growth.
Record Cash Flow Achievement: Record cash flow from operations in the quarter was $222 million, representing the best quarter as a company.
EPS Guidance Increase: The company raised its full-year EPS guidance to $2.85 to $3 per share, reflecting strong operational performance and lower expected interest expense for the year.

Negative

Revenue and Income Growth: Our record revenue was accompanied by a higher growth rate in operating income, but we still expect to see the gas business to be slightly down this year.
Gas Business Performance Outlook: Despite the strong performance in Q3, we still expect to see the gas business to be slightly down this year, but the team has performed very well in maintaining margins despite the decreased revenue.
Margin Decline Factors: We did experience lower margins in the business in the third quarter compared to last year due primarily to fewer project closeouts and unfavorable weather conditions that negatively impacted our productivity on several projects.
Margin Decline Factors: We have seen lower margins in the business in the third quarter compared to last year due primarily to fewer project closeouts and unfavorable weather conditions that negatively impacted our productivity on several projects.
Backlog Increase Overview: Our total backlog at the end of Q3 was just under $11.3 billion, up $366 million from the end of 2023 and more than $800 million higher sequentially from Q2.

Positive

Record Revenue Growth: Record revenue of over $1.6 billion, an increase of $119.6 million or 7.8% over the prior year, driven primarily by growth in both Energy and Utilities segments.
Energy Revenue Increase: Energy segment revenue increased by $123.1 million or 13.9% from the prior year, primarily driven by solar, partially offset by lower industrial construction activity.
Utilities Segment Profit Increase: Utilities segment gross profit was $87 million, up $22.4 million or 34.6% compared to the prior year, due to revenue growth.
Record Cash Flow Achievement: Record cash flow from operations in the quarter was $222 million, representing the best quarter as a company.
EPS Guidance Increase: The company raised its full-year EPS guidance to $2.85 to $3 per share, reflecting strong operational performance and lower expected interest expense for the year.

Negative

Revenue and Income Growth: Our record revenue was accompanied by a higher growth rate in operating income, but we still expect to see the gas business to be slightly down this year.
Gas Business Performance Outlook: Despite the strong performance in Q3, we still expect to see the gas business to be slightly down this year, but the team has performed very well in maintaining margins despite the decreased revenue.
Margin Decline Factors: We did experience lower margins in the business in the third quarter compared to last year due primarily to fewer project closeouts and unfavorable weather conditions that negatively impacted our productivity on several projects.
Margin Decline Factors: We have seen lower margins in the business in the third quarter compared to last year due primarily to fewer project closeouts and unfavorable weather conditions that negatively impacted our productivity on several projects.
Backlog Increase Overview: Our total backlog at the end of Q3 was just under $11.3 billion, up $366 million from the end of 2023 and more than $800 million higher sequentially from Q2.

PRIM News

5.0

03-19NASDAQ.COM

Insider Sale: PRESIDENT & CEO of $PRIM Sells 54,126 Shares

2.0

03-17NASDAQ.COM

Notable Two Hundred Day Moving Average Cross - PRIM

5.0

03-14Businesswire

Primoris Services Corporation Announces Leadership Changes

5.0

03-14SeekingAlpha

Primoris Services CEO to depart, David King named interim CEO

1.0

03-11Newsfilter

Primoris Services Corporation to Participate in Investor Conferences

PRIM FAQs

Should I buy or sell PRIM Stock?

Based on the analysis of PRIM's recent performance and market trends, it is currently a HOLD. The stock shows potential for long-term growth due to strong earnings and positive analyst sentiment, but short-term uncertainties related to leadership changes and market trends suggest a cautious approach.