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Primoris Services (PRIM) Stock Sinks As Market Gains: What You Should Know

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·2 min read
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In the latest trading session, Primoris Services (PRIM) closed at $32.52, marking a -0.91% move from the previous day. This move lagged the S&P 500's daily gain of 0.2%.

Coming into today, shares of the construction contractor had gained 5.09% in the past month. In that same time, the Construction sector lost 7.02%, while the S&P 500 gained 1.06%.

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 might also notice recent changes to analyst estimates for PRIM. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 11.11% higher within the past month. PRIM is currently a Zacks Rank #3 (Hold).

Investors should also note PRIM's current valuation metrics, including its Forward P/E ratio of 13.51. For comparison, its industry has an average Forward P/E of 15.89, 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 92, putting it in the top 37% 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.

To follow PRIM in the coming trading sessions, be sure to utilize Zacks.com.


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