Concrete Pumping (NASDAQ:BBCP) Releases Earnings Results, Beats Estimates By $0.03 EPS

Concrete Pumping (NASDAQ:BBCP) issued its quarterly earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03, FiscalAI reports. Concrete Pumping had a return on equity of 2.85% and a net margin of 1.62%.The firm had revenue of $90.56 million for the quarter, compared to the consensus estimate of $84.82 million.

Concrete Pumping Trading Up 0.4%

BBCP stock traded up $0.03 during mid-day trading on Tuesday, reaching $6.76. The company had a trading volume of 125,835 shares, compared to its average volume of 109,613. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.17 and a quick ratio of 2.03. The company has a market capitalization of $343.75 million, a PE ratio of 75.12 and a beta of 1.07. The firm has a 50 day moving average of $6.56 and a 200 day moving average of $6.68. Concrete Pumping has a 12 month low of $4.78 and a 12 month high of $7.80.

Institutional Trading of Concrete Pumping

A number of large investors have recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of Concrete Pumping by 5.7% in the first quarter. Royal Bank of Canada now owns 161,031 shares of the company’s stock worth $878,000 after acquiring an additional 8,620 shares during the period. AQR Capital Management LLC acquired a new stake in Concrete Pumping during the 1st quarter worth about $78,000. Empowered Funds LLC raised its stake in shares of Concrete Pumping by 3.7% during the 1st quarter. Empowered Funds LLC now owns 321,737 shares of the company’s stock valued at $1,757,000 after buying an additional 11,605 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Concrete Pumping by 166.4% in the 1st quarter. Jane Street Group LLC now owns 31,906 shares of the company’s stock valued at $174,000 after buying an additional 19,929 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Concrete Pumping in the 1st quarter worth approximately $54,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Analysts Set New Price Targets

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