Back to top

Image: Bigstock

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

Read MoreHide Full Article

In the latest trading session, Primoris Services (PRIM - Free Report) closed at $31.70, marking a -0.88% move from the previous day. This move lagged the S&P 500's daily loss of 0.55%. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq lost 2.01%.

Heading into today, shares of the construction contractor had lost 7.41% over the past month, lagging the Construction sector's gain of 1.71% and the S&P 500's gain of 0.84% in that time.

PRIM will be looking to display strength as it nears its next earnings release.

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 recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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 sporting a Zacks Rank of #1 (Strong Buy).

Digging into valuation, PRIM currently has a Forward P/E ratio of 13. This represents a discount compared to its industry's average Forward P/E of 14.52.

The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 212, putting it in the bottom 17% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Primoris Services Corporation (PRIM) - free report >>

Published in