Zacks: Analysts Anticipate US Concrete Inc (NASDAQ:USCR) to Announce $1.43 Earnings Per Share
Wall Street brokerages expect US Concrete Inc (NASDAQ:USCR) to announce earnings of $1.43 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for US Concrete’s earnings. US Concrete posted earnings per share of $0.60 during the same quarter last year, which would suggest a positive year-over-year growth rate of 138.3%. The firm is expected to issue its next earnings report on Thursday, November 7th.
On average, analysts expect that US Concrete will report full year earnings of $2.31 per share for the current fiscal year, with EPS estimates ranging from $1.89 to $2.72. For the next financial year, analysts anticipate that the firm will report earnings of $3.05 per share, with EPS estimates ranging from $2.33 to $3.77. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow US Concrete.
US Concrete (NASDAQ:USCR) last released its earnings results on Friday, August 9th. The construction company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.62). The company had revenue of $367.50 million during the quarter, compared to analysts’ expectations of $408.18 million. US Concrete had a net margin of 1.06% and a return on equity of 3.05%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the business posted $1.08 earnings per share.
In other US Concrete news, VP Herbert A. Burton sold 1,268 shares of US Concrete stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $47.69, for a total transaction of $60,470.92. Following the completion of the sale, the vice president now directly owns 5,681 shares of the company’s stock, valued at approximately $270,926.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 2,018 shares of company stock valued at $95,581 over the last ninety days. 4.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Texas Permanent School Fund lifted its position in shares of US Concrete by 2.7% during the first quarter. Texas Permanent School Fund now owns 10,738 shares of the construction company’s stock worth $445,000 after purchasing an additional 282 shares during the last quarter. Advisory Services Network LLC raised its stake in US Concrete by 15.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,873 shares of the construction company’s stock valued at $142,000 after acquiring an additional 375 shares during the period. Comerica Bank raised its stake in US Concrete by 2.8% in the 1st quarter. Comerica Bank now owns 16,073 shares of the construction company’s stock valued at $705,000 after acquiring an additional 434 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in US Concrete in the 2nd quarter valued at about $29,000. Finally, John G Ullman & Associates Inc. increased its position in shares of US Concrete by 9.7% during the second quarter. John G Ullman & Associates Inc. now owns 6,800 shares of the construction company’s stock valued at $338,000 after buying an additional 600 shares during the period. 97.43% of the stock is owned by institutional investors.
NASDAQ:USCR traded down $0.59 during midday trading on Monday, reaching $47.09. The company had a trading volume of 6,933 shares, compared to its average volume of 209,511. The firm has a market capitalization of $793.68 million, a price-to-earnings ratio of 24.39 and a beta of 1.29. The stock’s fifty day simple moving average is $44.45 and its 200-day simple moving average is $45.51. US Concrete has a 12-month low of $27.68 and a 12-month high of $54.95. The company has a current ratio of 1.29, a quick ratio of 1.09 and a debt-to-equity ratio of 2.16.
US 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, U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.
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