U.S. Concrete, Inc. (NASDAQ:USCR) Expected to Announce Earnings of $0.69 Per Share

Analysts forecast that U.S. Concrete, Inc. (NASDAQ:USCR) will post $0.69 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for U.S. Concrete’s earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $0.69. U.S. Concrete posted earnings per share of $0.49 during the same quarter last year, which indicates a positive year over year growth rate of 40.8%. The firm is expected to report its next earnings results on Tuesday, August 3rd.

According to Zacks, analysts expect that U.S. Concrete will report full-year earnings of $2.59 per share for the current year, with EPS estimates ranging from $2.44 to $2.83. For the next fiscal year, analysts forecast that the firm will post earnings of $3.31 per share, with EPS estimates ranging from $3.06 to $3.63. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow U.S. Concrete.

U.S. Concrete (NASDAQ:USCR) last released its quarterly earnings data on Thursday, May 6th. The construction company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.22. The business had revenue of $287.50 million during the quarter, compared to analyst estimates of $307.24 million. U.S. Concrete had a net margin of 1.81% and a return on equity of 6.07%. U.S. Concrete’s revenue was down 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS.

Several research analysts have commented on the company. Truist raised their target price on U.S. Concrete from $35.00 to $65.00 in a research note on Wednesday, April 14th. Zacks Investment Research upgraded shares of U.S. Concrete from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Tuesday, May 25th. Finally, DA Davidson upped their target price on shares of U.S. Concrete from $55.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday.

In other news, VP Herbert A. Burton sold 499 shares of the stock in a transaction on Friday, June 4th. The shares were sold at an average price of $57.80, for a total value of $28,842.20. Following the transaction, the vice president now owns 13,237 shares of the company’s stock, valued at approximately $765,098.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Herbert A. Burton sold 500 shares of the firm’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $67.00, for a total transaction of $33,500.00. Following the sale, the vice president now owns 11,674 shares in the company, valued at approximately $782,158. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,099 shares of company stock worth $130,174. Insiders own 5.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baystate Wealth Management LLC purchased a new stake in U.S. Concrete during the first quarter valued at about $25,000. Vantage Consulting Group Inc purchased a new position in shares of U.S. Concrete during the 4th quarter valued at about $37,000. IronBridge Private Wealth LLC purchased a new position in shares of U.S. Concrete during the 4th quarter valued at about $44,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in U.S. Concrete by 138.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,818 shares of the construction company’s stock worth $73,000 after buying an additional 1,056 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in U.S. Concrete in the first quarter worth approximately $74,000. 72.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ USCR traded up $0.08 during mid-day trading on Friday, hitting $74.31. The company had a trading volume of 10,323 shares, compared to its average volume of 453,949. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.34 and a quick ratio of 1.03. U.S. Concrete has a 1 year low of $20.77 and a 1 year high of $78.99. The firm has a market capitalization of $1.26 billion, a P/E ratio of 51.55 and a beta of 1.35. The business’s 50-day simple moving average is $61.95.

U.S. 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, the U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.

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