Concrete Pumping (NASDAQ:BBCP) Releases Earnings Results, Meets Expectations

Concrete Pumping (NASDAQ:BBCP – Get Rating) announced its quarterly earnings data on Monday. The company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14, MarketWatch Earnings reports. Concrete Pumping had a net margin of 6.59% and a return on equity of 7.04%. The firm had revenue of $114.89 million during the quarter, compared to analyst estimates of $102.16 million. Concrete Pumping updated its FY 2023 guidance to EPS.

Concrete Pumping Stock Up 19.5 %

Concrete Pumping stock traded up $1.27 during mid-day trading on Tuesday, hitting $7.78. The company had a trading volume of 507,267 shares, compared to its average volume of 130,851. The stock has a market cap of $440.35 million, a price-to-earnings ratio of 17.28 and a beta of 0.95. Concrete Pumping has a 1 year low of $4.64 and a 1 year high of $8.26. The company has a quick ratio of 0.94, a current ratio of 0.98 and a debt-to-equity ratio of 1.34. The business has a fifty day moving average of $6.49 and a 200 day moving average of $6.63.

Hedge Funds Weigh In On Concrete Pumping

A number of hedge funds have recently modified their holdings of BBCP. Millennium Management LLC purchased a new position in shares of Concrete Pumping during the second quarter worth approximately $848,000. Dimensional Fund Advisors LP lifted its holdings in shares of Concrete Pumping by 18.5% during the third quarter. Dimensional Fund Advisors LP now owns 542,322 shares of the company’s stock worth $3,499,000 after purchasing an additional 84,723 shares during the period. Royal Bank of Canada lifted its holdings in shares of Concrete Pumping by 13.8% during the third quarter. Royal Bank of Canada now owns 207,866 shares of the company’s stock worth $1,341,000 after purchasing an additional 25,243 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Concrete Pumping during the third quarter worth $119,000. Finally, State Street Corp lifted its holdings in shares of Concrete Pumping by 2.4% during the second quarter. State Street Corp now owns 472,020 shares of the company’s stock worth $2,860,000 after purchasing an additional 11,084 shares during the period. 35.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BBCP. TheStreet cut shares of Concrete Pumping from a “b-” rating to a “c+” rating in a research report on Tuesday, December 27th. Robert W. Baird upped their target price on shares of Concrete Pumping from $7.00 to $7.50 and gave the company an “outperform” rating in a research report on Tuesday.

Concrete Pumping Company Profile

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Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Camfaud brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.