US Concrete Inc (USCR) Expected to Announce Quarterly Sales of $376.68 Million
Brokerages expect US Concrete Inc (NASDAQ:USCR) to announce $376.68 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for US Concrete’s earnings. The lowest sales estimate is $358.38 million and the highest is $391.00 million. US Concrete reported sales of $341.35 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.4%. The business is expected to report its next earnings results on Thursday, March 7th.
On average, analysts expect that US Concrete will report full-year sales of $1.51 billion for the current financial year, with estimates ranging from $1.49 billion to $1.53 billion. For the next year, analysts forecast that the company will post sales of $1.64 billion, with estimates ranging from $1.63 billion to $1.66 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover US Concrete.
US Concrete (NASDAQ:USCR) last announced its earnings results on Thursday, November 1st. The construction company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.42). The business had revenue of $404.27 million for the quarter, compared to analysts’ expectations of $411.35 million. US Concrete had a net margin of 1.69% and a return on equity of 10.56%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.45 earnings per share.
Shares of NASDAQ USCR opened at $35.28 on Thursday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.10 and a current ratio of 1.28. The stock has a market cap of $583.67 million, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.39. US Concrete has a 12-month low of $27.68 and a 12-month high of $84.95.
In other news, Director Robert Martin Rayner acquired 5,000 shares of US Concrete stock in a transaction that occurred on Wednesday, November 28th. The shares were bought at an average cost of $38.57 per share, with a total value of $192,850.00. Following the transaction, the director now directly owns 58,028 shares of the company’s stock, valued at approximately $2,238,139.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodore P. Rossi acquired 40,000 shares of US Concrete stock in a transaction that occurred on Friday, December 14th. The stock was purchased at an average cost of $33.40 per share, for a total transaction of $1,336,000.00. Following the completion of the transaction, the director now directly owns 55,310 shares in the company, valued at $1,847,354. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 64,100 shares of company stock worth $2,207,936 and sold 390 shares worth $14,489. Corporate insiders own 5.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Rehmann Capital Advisory Group purchased a new stake in US Concrete in the 3rd quarter worth about $136,000. SG Americas Securities LLC purchased a new position in shares of US Concrete during the second quarter worth approximately $181,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of US Concrete during the third quarter worth approximately $208,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of US Concrete during the second quarter worth approximately $265,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of US Concrete during the third quarter worth approximately $255,000.
About US Concrete
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 and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.
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