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Primoris Services (PRIM) Dips More Than Broader Markets: What You Should Know

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Primoris Services (PRIM) closed the most recent trading day at $33.31, moving -1.07% from the previous trading session. This change lagged the S&P 500's daily loss of 0.02%.

Heading into today, shares of the construction contractor had gained 6.65% over the past month, outpacing the Construction sector's gain of 6.22% and the S&P 500's gain of 5.48% in that time.

PRIM will be looking to display strength as it nears its next earnings release, which is expected to be May 5, 2021. Our most recent consensus estimate is calling for quarterly revenue of $793 million, up 6.7% from the year-ago period.

PRIM's full-year Zacks Consensus Estimates are calling for earnings of $2.42 per share and revenue of $3.8 billion. These results would represent year-over-year changes of +8.04% and +8.95%, respectively.

Investors might also notice recent changes to analyst estimates for PRIM. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.63% lower within the past month. PRIM is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, PRIM currently has a Forward P/E ratio of 13.91. This represents a discount compared to its industry's average Forward P/E of 17.01.

The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 18% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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