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Primoris Services (PRIM) closed at $34.78 in the latest trading session, marking a -1.53% move from the prior day. This change lagged the S&P 500's daily gain of 1.11%.
Prior to today's trading, shares of the construction contractor had lost 16.39% over the past month. This has lagged the Construction sector's gain of 4.47% and the S&P 500's gain of 4.72% in that time.
Investors will be hoping for strength from PRIM as it approaches its next earnings release, which is expected to be May 5, 2021.
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. 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.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. PRIM is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note PRIM's current valuation metrics, including its Forward P/E ratio of 13.54. For comparison, its industry has an average Forward P/E of 17.6, which means PRIM is trading at a discount to the group.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 215, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow PRIM in the coming trading sessions, be sure to utilize Zacks.com.
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