Wall Street brokerages forecast that US Concrete Inc (NASDAQ:USCR) will report earnings per share of $0.61 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for US Concrete’s earnings. The highest EPS estimate is $0.74 and the lowest is $0.36. US Concrete posted earnings per share of $0.50 in the same quarter last year, which would indicate a positive year over year growth rate of 22%. The company is scheduled to report its next quarterly earnings report on Thursday, March 7th.
According to Zacks, analysts expect that US Concrete will report full-year earnings of $2.60 per share for the current financial year, with EPS estimates ranging from $2.36 to $2.73. For the next financial year, analysts forecast that the business will post earnings of $3.66 per share, with EPS estimates ranging from $3.37 to $3.97. Zacks’ EPS calculations are an average based on a survey of research firms that follow US Concrete.
US Concrete (NASDAQ:USCR) last posted its quarterly earnings results on Thursday, November 1st. The construction company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.42). US Concrete had a net margin of 1.69% and a return on equity of 10.56%. The business had revenue of $404.27 million during the quarter, compared to analysts’ expectations of $411.35 million. During the same quarter last year, the firm earned $1.45 earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year.
A number of research firms recently weighed in on USCR. Citigroup decreased their price target on US Concrete from $63.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, January 4th. DA Davidson decreased their price target on US Concrete from $82.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, January 2nd. ValuEngine upgraded US Concrete from a “sell” rating to a “hold” rating in a research note on Tuesday, December 11th. BidaskClub downgraded US Concrete from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Finally, SunTrust Banks decreased their price target on US Concrete to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, November 21st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $69.83.
Shares of US Concrete stock traded down $0.47 during trading on Tuesday, reaching $34.20. The company’s stock had a trading volume of 3,603 shares, compared to its average volume of 414,033. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.28 and a quick ratio of 1.10. US Concrete has a 12-month low of $27.68 and a 12-month high of $84.95. The company has a market cap of $593.42 million, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.10 and a beta of 1.39.
In other news, Director Robert Martin Rayner bought 5,000 shares of the firm’s stock in a transaction on Wednesday, November 28th. The shares were bought at an average cost of $38.57 per share, for a total transaction of $192,850.00. Following the completion of the transaction, the director now owns 58,028 shares in the company, valued at $2,238,139.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodore P. Rossi bought 10,000 shares of the firm’s stock in a transaction on Monday, December 17th. The shares were purchased at an average price of $34.85 per share, for a total transaction of $348,500.00. Following the completion of the transaction, the director now owns 78,411 shares of the company’s stock, valued at approximately $2,732,623.35. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 64,100 shares of company stock worth $2,207,936. 5.30% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Rehmann Capital Advisory Group acquired a new position in US Concrete in the third quarter valued at $136,000. NumerixS Investment Technologies Inc acquired a new stake in US Concrete during the second quarter worth about $154,000. SG Americas Securities LLC acquired a new stake in US Concrete during the second quarter worth about $181,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in US Concrete during the third quarter worth about $208,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in US Concrete during the third quarter worth about $255,000.
US Concrete Company Profile
U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.
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