Concrete Pumping (NASDAQ:BBCP) Issues Earnings Results, Beats Estimates By $0.03 EPS

Concrete Pumping (NASDAQ:BBCP) released its quarterly earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03, FiscalAI reports. The business had revenue of $90.56 million during the quarter, compared to analysts’ expectations of $84.82 million. Concrete Pumping had a return on equity of 2.85% and a net margin of 1.62%.

Concrete Pumping Trading Up 0.4%

Concrete Pumping stock traded up $0.03 during midday trading on Tuesday, reaching $6.76. The stock had a trading volume of 161,359 shares, compared to its average volume of 110,982. The company has a quick ratio of 2.03, a current ratio of 2.17 and a debt-to-equity ratio of 1.58. The firm has a market cap of $343.75 million, a price-to-earnings ratio of 75.12 and a beta of 1.07. Concrete Pumping has a 52-week low of $4.78 and a 52-week high of $7.80. The company has a fifty day moving average of $6.56 and a 200 day moving average of $6.68.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Concrete Pumping in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Concrete Pumping presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Institutional Investors Weigh In On Concrete Pumping

Several hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in Concrete Pumping by 97.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock valued at $31,000 after acquiring an additional 2,187 shares during the period. Acadian Asset Management LLC purchased a new stake in Concrete Pumping in the first quarter worth $54,000. Strs Ohio bought a new stake in shares of Concrete Pumping during the first quarter worth $62,000. Verition Fund Management LLC bought a new stake in shares of Concrete Pumping during the fourth quarter worth $69,000. Finally, HRT Financial LP purchased a new stake in shares of Concrete Pumping during the fourth quarter valued at $71,000. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

About Concrete Pumping

Concrete Pumping Holdings, Inc (NASDAQ: BBCP) is a specialized provider of concrete placing and pumping solutions for commercial, residential and infrastructure construction projects. Through its network of regional operating subsidiaries, the company offers boom pumps, line pumps and volumetric concrete mixers, enabling contractors to efficiently deliver and place concrete on jobsites of varying scale and complexity. Concrete Pumping’s services are designed to streamline the concrete placement process, reduce project timelines and improve overall jobsite safety.

Since its formation through a series of strategic acquisitions beginning in 2020, Concrete Pumping Holdings has focused on consolidating regional operators under a unified platform.