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Primoris Services (NYSE:PRIM) Corporation stock reached an all-time high of 91.59 USD, marking a significant milestone for the $4.86 billion market cap company. According to InvestingPro data, the stock currently trades at a P/E ratio of 21.8, with analysts maintaining a strong buy consensus. This achievement reflects a robust 60.16% increase over the past year, underscoring strong investor confidence and positive market conditions. The construction and engineering services firm has capitalized on industry demand and strategic growth initiatives, driving its stock to this unprecedented level. With revenue growth of 12.45% and an 18-year track record of consistent dividend payments, the company’s performance remains strong. InvestingPro analysis reveals 12 additional key insights about Primoris’s financial health and growth prospects, available in the comprehensive Pro Research Report.
In other recent news, Primoris Services Corporation reported impressive first-quarter 2025 earnings, surpassing expectations with an earnings per share (EPS) of $0.98, compared to the forecasted $0.60. The company’s revenue also exceeded projections, reaching $1.65 billion against an anticipated $1.49 billion. In addition to strong financial performance, Primoris announced a change in its auditing firm due to a merger involving its previous auditor. Moss Adams LLP merged with Baker Tilly US, LLP, leading to Baker Tilly becoming Primoris’s new independent registered public accounting firm. Meanwhile, KeyBanc has raised its price target for Primoris to $98, maintaining an Overweight rating, reflecting a positive outlook on the company’s future. Jefferies also increased its price target to $100, continuing to hold a Buy rating, and highlighted Primoris as a prime candidate to raise its guidance for fiscal year 2025. These developments underscore the strong momentum and positive sentiment surrounding Primoris Services among analysts.
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