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Primoris Services (PRIM) closed the most recent trading day at $28.34, moving -0.25% from the previous trading session. This change was narrower than the S&P 500's 0.86% loss on the day.
Prior to today's trading, shares of the construction contractor had lost 15.97% over the past month. This has lagged the Construction sector's loss of 1.4% and the S&P 500's gain of 3.22% in that time.
PRIM will be looking to display strength as it nears its next earnings release. On that day, PRIM is projected to report earnings of $0.69 per share, which would represent year-over-year growth of 1.47%. Our most recent consensus estimate is calling for quarterly revenue of $911.2 million, up 0.33% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.43 per share and revenue of $3.7 billion, which would represent changes of +8.48% and +5.99%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PRIM. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. PRIM is currently a Zacks Rank #2 (Buy).
Digging into valuation, PRIM currently has a Forward P/E ratio of 11.69. For comparison, its industry has an average Forward P/E of 15.16, which means PRIM is trading at a discount to the group.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 115, putting it in the top 46% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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