Primoris Services (PRIM) Dips More Than Broader Markets: What You Should Know
Primoris Services (PRIM) closed the most recent trading day at $39.84, moving -1.46% from the previous trading session. This change lagged the S&P 500's 0.16% loss on the day. At the same time, the Dow lost 0.39%, and the tech-heavy Nasdaq gained 0.09%.
Wall Street will be looking for positivity from PRIM as it approaches its next earnings report date.
PRIM's full-year Zacks Consensus Estimates are calling for earnings of $2.46 per share and revenue of $3.8 billion. These results would represent year-over-year changes of +9.82% and +8.95%, respectively.
It is also important to note the recent changes to analyst estimates for PRIM. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 8.85% higher within the past month. PRIM is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, PRIM is currently trading at a Forward P/E ratio of 16.72. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 16.72.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 215, putting it in the bottom 16% 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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