Concrete Pumping (NASDAQ:BBCP) Releases Earnings Results, Beats Estimates By $0.01 EPS

Concrete Pumping (NASDAQ:BBCP) posted its quarterly earnings results on Tuesday. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01, Zacks reports. Concrete Pumping had a return on equity of 4.19% and a net margin of 2.65%.

Concrete Pumping Stock Performance

Shares of NASDAQ BBCP traded down $0.11 during mid-day trading on Tuesday, reaching $7.39. 131,943 shares of the company’s stock were exchanged, compared to its average volume of 81,624. The firm has a market capitalization of $380.36 million, a price-to-earnings ratio of 46.19 and a beta of 1.04. The firm has a 50-day moving average price of $6.61 and a two-hundred day moving average price of $6.77. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.75 and a quick ratio of 1.64. Concrete Pumping has a 52 week low of $4.78 and a 52 week high of $9.68.

Institutional Investors Weigh In On Concrete Pumping

A number of hedge funds and other institutional investors have recently bought and sold shares of BBCP. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Concrete Pumping by 22.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 81,579 shares of the company’s stock worth $575,000 after buying an additional 14,950 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Concrete Pumping during the third quarter valued at $71,000. Occudo Quantitative Strategies LP bought a new stake in shares of Concrete Pumping during the 3rd quarter valued at about $74,000. BNP Paribas Financial Markets grew its holdings in shares of Concrete Pumping by 97.5% during the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock worth $31,000 after purchasing an additional 2,187 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in Concrete Pumping in the third quarter valued at approximately $161,000. Institutional investors own 34.20% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Concrete Pumping in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.50.

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.