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

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Primoris Services (PRIM - Free Report) closed at $33.44 in the latest trading session, marking a -0.24% move from the prior day. This change lagged the S&P 500's 0.42% gain on the day.

Coming into today, shares of the construction contractor had lost 9.65% in the past month. In that same time, the Construction sector gained 9.2%, while the S&P 500 gained 6.32%.

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.

Investors should also note any recent changes to analyst estimates for PRIM. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 remained stagnant within the past month. PRIM currently has a Zacks Rank of #2 (Buy).

Valuation is also important, so investors should note that PRIM has a Forward P/E ratio of 14.09 right now. For comparison, its industry has an average Forward P/E of 17.04, 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 213, putting it in the bottom 17% 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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