Concrete Pumping (NASDAQ:BBCP) Issues Earnings Results

Concrete Pumping (NASDAQ:BBCP) released its quarterly earnings data on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03, FiscalAI reports. Concrete Pumping had a return on equity of 2.50% and a net margin of 1.65%.The business had revenue of $106.80 million for the quarter, compared to the consensus estimate of $96.71 million.

Concrete Pumping Trading Up 2.2%

BBCP traded up $0.17 during trading hours on Thursday, reaching $7.98. 218,513 shares of the company’s stock traded hands, compared to its average volume of 123,759. The firm has a 50-day moving average price of $7.51 and a 200 day moving average price of $6.92. Concrete Pumping has a 52-week low of $5.55 and a 52-week high of $8.13. The company has a quick ratio of 1.82, a current ratio of 1.96 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $403.07 million, a PE ratio of 88.67 and a beta of 0.94.

Hedge Funds Weigh In On Concrete Pumping

A number of large investors have recently bought and sold shares of BBCP. BNP Paribas Financial Markets lifted its holdings in shares of Concrete Pumping by 97.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock worth $31,000 after buying an additional 2,187 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Concrete Pumping in the 1st quarter worth $54,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Concrete Pumping in the 3rd quarter worth $71,000. Verition Fund Management LLC purchased a new stake in shares of Concrete Pumping in the 4th quarter worth $69,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Concrete Pumping in the 3rd quarter worth $74,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Robert W. Baird lifted their price objective on Concrete Pumping from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 11th. Wall Street Zen downgraded Concrete Pumping from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Concrete Pumping in a research report on Friday, April 10th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Concrete Pumping currently has an average rating of “Hold” and a consensus target price of $8.25.

About Concrete Pumping

Concrete Pumping Holdings, Inc (NASDAQ: BBCP) is a specialized provider of concrete placing and pumping solutions for commercial, residential and infrastructure construction projects. Through its network of regional operating subsidiaries, the company offers boom pumps, line pumps and volumetric concrete mixers, enabling contractors to efficiently deliver and place concrete on jobsites of varying scale and complexity. Concrete Pumping’s services are designed to streamline the concrete placement process, reduce project timelines and improve overall jobsite safety.

Since its formation through a series of strategic acquisitions beginning in 2020, Concrete Pumping Holdings has focused on consolidating regional operators under a unified platform.