Primoris Services Corp (PRIM) is Initiated by Canaccord Genuity to Hold, Price Target at $24

Primoris Services Corp (PRIM) was Initiated by Canaccord Genuity to “Hold” and the brokerage firm has set the Price Target at $24. Canaccord Genuity advised their investors in a research report released on Apr 12, 2016.

Many Wall Street Analysts have commented on Primoris Services Corp. Canaccord Genuity Initiated Primoris Services Corp on Apr 12, 2016 to “Hold”, Price Target of the shares are set at $24.

On the company’s financial health, Primoris Services Corp reported $0.24 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Feb 25, 2016. Analyst had a consensus of $0.30. The company had revenue of $497.10 million for the quarter, compared to analysts expectations of $527.73 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Primoris Services Corp closed down -0.5 points or -2.18% at $22.45 with 1,55,142 shares getting traded on Monday. Post opening the session at $23.12, the shares hit an intraday low of $22.41 and an intraday high of $23.44 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

Primoris Services Corp

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