Canaccord Genuity Initiates Coverage on Primoris Services Corp to Hold

Canaccord Genuity Initiates Coverage on Primoris Services Corp(NASDAQ:PRIM). The shares have been rated Hold. The rating by Canaccord Genuity was issued on Apr 11, 2016.

In a different note, On Mar 11, 2016, DA Davidson said it Maintains its rating on Primoris Services Corp. In the research note, the firm Raises the price-target to $24.00 per share. The shares have been rated ‘Buy’ by the firm. On Feb 26, 2016, DA Davidson said it Maintains its rating on Primoris Services Corp. In the research note, the firm Lowers the price-target to $26.00 per share. The shares have been rated ‘Buy’ by the firm.

Primoris Services Corp (PRIM) shares turned negative on Fridays trading session with the shares closing down -0.01 points or -0.04% at a volume of 1,54,524. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $23.2. The peak price level was also seen at $23.2 while the days lowest was $22.47. Finally the shares closed at $22.87. The 52-week high of the shares is $25.25 while the 52-week low is $15.97. According to the latest information available, the market cap of the company is $1,184 M.

Primoris Services Corp(PRIM) last announced its earnings results on Feb 25, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $497.14M. Analysts had an estimated revenue of $527.72M. Earnings per share were $0.24. Analysts had estimated an EPS of $0.30.

Primoris Services Corporation is a holding company. Through its subsidiaries the Company operates as a specialty construction and infrastructure company. It provides construction fabrication maintenance replacement water and wastewater and engineering services to public utilities petrochemical companies energy companies municipalities state departments of transportation and other customers. It operates in three segments: the West Construction Services segment (West segment) the East Construction Services segment (East segment) and the Energy segment. It installs replaces repairs and rehabilitates natural gas refined product water and wastewater pipeline systems; large diameter gas and liquid pipeline facilities; and heavy civil projects earthwork and site development. It constructs mechanical facilities and other structures including power plants petrochemical facilities refineries water and wastewater treatment facilities and parking structures.

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