Brokerages Anticipate US Concrete Inc (USCR) to Post $1.46 EPS

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Equities research analysts forecast that US Concrete Inc (NASDAQ:USCR) will post $1.46 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for US Concrete’s earnings. The lowest EPS estimate is $1.29 and the highest is $1.59. US Concrete posted earnings of $0.99 per share in the same quarter last year, which indicates a positive year over year growth rate of 47.5%. The firm is scheduled to report its next quarterly earnings report on Friday, November 2nd.

On average, analysts expect that US Concrete will report full-year earnings of $3.91 per share for the current financial year, with EPS estimates ranging from $3.69 to $4.13. For the next year, analysts anticipate that the company will report earnings of $5.44 per share, with EPS estimates ranging from $4.76 to $6.95. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover US Concrete.

US Concrete (NASDAQ:USCR) last issued its quarterly earnings data on Tuesday, August 7th. The construction company reported $1.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.21). The company had revenue of $404.20 million for the quarter, compared to analysts’ expectations of $390.55 million. US Concrete had a net margin of 2.34% and a return on equity of 12.82%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share.

A number of analysts have recently weighed in on USCR shares. BidaskClub downgraded shares of US Concrete from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. SunTrust Banks set a $70.00 target price on shares of US Concrete and gave the stock a “buy” rating in a research report on Monday, August 6th. Citigroup reduced their target price on shares of US Concrete from $77.00 to $74.00 and set a “$53.95” rating on the stock in a research report on Monday, July 23rd. DA Davidson reaffirmed a “buy” rating and issued a $87.00 target price (down from $95.00) on shares of US Concrete in a research report on Thursday. Finally, ValuEngine downgraded shares of US Concrete from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 26th. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $80.00.

US Concrete stock traded up $0.40 during mid-day trading on Friday, reaching $35.94. 505,761 shares of the company traded hands, compared to its average volume of 383,019. The company has a current ratio of 1.41, a quick ratio of 1.21 and a debt-to-equity ratio of 2.27. The company has a market cap of $771.10 million, a P/E ratio of 13.26, a PEG ratio of 1.26 and a beta of 1.06. US Concrete has a 52-week low of $35.46 and a 52-week high of $86.35.

In other news, Director Kurt Matthew Cellar acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were bought at an average cost of $48.30 per share, with a total value of $96,600.00. Following the transaction, the director now owns 45,309 shares of the company’s stock, valued at approximately $2,188,424.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John E. Kunz acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were purchased at an average cost of $51.76 per share, for a total transaction of $51,760.00. Following the completion of the transaction, the chief financial officer now directly owns 13,356 shares in the company, valued at approximately $691,306.56. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 8,650 shares of company stock worth $424,178 and have sold 9,260 shares worth $476,128. Corporate insiders own 5.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its position in US Concrete by 9.5% during the 1st quarter. Barclays PLC now owns 13,021 shares of the construction company’s stock valued at $788,000 after purchasing an additional 1,134 shares during the last quarter. LPL Financial LLC grew its position in US Concrete by 33.5% during the 1st quarter. LPL Financial LLC now owns 4,679 shares of the construction company’s stock valued at $283,000 after purchasing an additional 1,173 shares during the last quarter. Rhumbline Advisers grew its position in US Concrete by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 38,069 shares of the construction company’s stock valued at $1,999,000 after purchasing an additional 1,539 shares during the last quarter. Royal Bank of Canada lifted its stake in US Concrete by 7.6% during the 1st quarter. Royal Bank of Canada now owns 24,994 shares of the construction company’s stock valued at $1,509,000 after acquiring an additional 1,771 shares during the period. Finally, OppenheimerFunds Inc. lifted its stake in US Concrete by 16.5% during the 1st quarter. OppenheimerFunds Inc. now owns 13,132 shares of the construction company’s stock valued at $793,000 after acquiring an additional 1,859 shares during the period.

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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