Zacks: Brokerages Anticipate U S Concrete, Inc. (USCR) Will Post Earnings of $1.46 Per Share

Wall Street brokerages expect U S Concrete, Inc. (NASDAQ:USCR) to report earnings per share (EPS) of $1.46 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for U S Concrete’s earnings. The lowest EPS estimate is $1.26 and the highest is $1.61. U S Concrete posted earnings of $1.19 per share in the same quarter last year, which suggests a positive year over year growth rate of 22.7%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.

On average, analysts expect that U S Concrete will report full-year earnings of $4.08 per share for the current fiscal year, with EPS estimates ranging from $4.02 to $4.14. For the next financial year, analysts forecast that the firm will post earnings of $5.29 per share, with EPS estimates ranging from $5.03 to $5.74. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow U S Concrete.

U S Concrete (NASDAQ:USCR) last issued its earnings results on Tuesday, August 8th. The construction company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.09. U S Concrete had a net margin of 2.09% and a return on equity of 25.80%. The firm had revenue of $340.90 million during the quarter, compared to the consensus estimate of $342.60 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The business’s quarterly revenue was up 23.6% on a year-over-year basis.

USCR has been the topic of a number of research reports. BidaskClub upgraded shares of U S Concrete from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. Zacks Investment Research downgraded shares of U S Concrete from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Citigroup Inc. boosted their target price on shares of U S Concrete to $92.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, ValuEngine upgraded shares of U S Concrete from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $83.50.

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In related news, VP David Andrew Behring sold 361 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $81.56, for a total transaction of $29,443.16. Following the transaction, the vice president now owns 10,804 shares in the company, valued at approximately $881,174.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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, July 26th. The shares were sold at an average price of $76.27, for a total transaction of $495,755.00. Following the transaction, the chief executive officer now owns 425,345 shares in the company, valued at approximately $32,441,063.15. The disclosure for this sale can be found here. Insiders have sold a total of 21,311 shares of company stock worth $1,643,874 in the last quarter. 5.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Pinebridge Investments L.P. increased its stake in U S Concrete by 2.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock valued at $154,000 after purchasing an additional 53 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in U S Concrete by 1.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,486 shares of the construction company’s stock valued at $352,000 after purchasing an additional 66 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in U S Concrete by 2.2% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 3,250 shares of the construction company’s stock valued at $210,000 after purchasing an additional 70 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in U S Concrete by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,957 shares of the construction company’s stock valued at $310,000 after purchasing an additional 77 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in U S Concrete by 5.2% during the 1st quarter. State of Alaska Department of Revenue now owns 1,610 shares of the construction company’s stock valued at $103,000 after purchasing an additional 80 shares in the last quarter.

Shares of U S Concrete (NASDAQ:USCR) traded up 1.13% during midday trading on Friday, hitting $71.70. 300,146 shares of the stock traded hands. U S Concrete has a 52 week low of $42.82 and a 52 week high of $83.85. The firm has a 50-day moving average price of $76.48 and a 200-day moving average price of $71.32. The stock has a market capitalization of $1.13 billion, a P/E ratio of 45.44 and a beta of 1.22.

About U S Concrete

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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