U S Concrete, Inc. (USCR) Issues Earnings Results
U S Concrete, Inc. (NASDAQ:USCR) posted its earnings results on Tuesday. The construction company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.09, Bloomberg Earnings reports. U S Concrete had a return on equity of 24.23% and a net margin of 2.11%. The company had revenue of $340.90 million for the quarter, compared to the consensus estimate of $342.60 million. During the same quarter in the previous year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was up 23.6% on a year-over-year basis.
U S Concrete (NASDAQ:USCR) traded down 2.04% during midday trading on Wednesday, hitting $76.90. The company had a trading volume of 235,345 shares. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 49.39 and a beta of 1.22. The stock has a 50 day moving average of $77.56 and a 200 day moving average of $68.62. U S Concrete has a 52-week low of $42.82 and a 52-week high of $80.45.
A number of equities research analysts have commented on the company. Citigroup Inc. lifted their target price on U S Concrete to $92.00 and gave the company a “buy” rating in a research report on Wednesday. BidaskClub downgraded U S Concrete from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded U S Concrete from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, TheStreet upgraded U S Concrete from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $82.25.
In other U S Concrete news, VP Jeffrey W. Roberts sold 2,394 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $68.00, for a total transaction of $162,792.00. Following the completion of the transaction, the vice president now owns 34,422 shares of the company’s stock, valued at approximately $2,340,696. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William J. Sandbrook sold 6,500 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $78.91, for a total transaction of $512,915.00. Following the transaction, the chief executive officer now directly owns 434,069 shares of the company’s stock, valued at approximately $34,252,384.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,294 shares of company stock valued at $1,719,658. Company insiders own 5.90% of the company’s stock.
U S Concrete Company Profile
U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
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