Equities research analysts expect U.S. Concrete, Inc. (NASDAQ:USCR) to report ($0.21) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for U.S. Concrete’s earnings. The highest EPS estimate is ($0.10) and the lowest is ($0.31). U.S. Concrete reported earnings per share of ($0.04) during the same quarter last year, which suggests a negative year over year growth rate of 425%. The company is expected to announce its next quarterly earnings results on Tuesday, May 4th.
On average, analysts expect that U.S. Concrete will report full year earnings of $2.72 per share for the current financial year, with EPS estimates ranging from $2.41 to $3.11. For the next financial year, analysts forecast that the business will report earnings of $3.38 per share, with EPS estimates ranging from $3.09 to $3.71. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for U.S. Concrete.
U.S. Concrete (NASDAQ:USCR) last released its quarterly earnings data on Tuesday, February 23rd. The construction company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.93. The business had revenue of $334.40 million during the quarter, compared to the consensus estimate of $355.52 million. U.S. Concrete had a return on equity of 8.17% and a net margin of 2.21%. The firm’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share.
Several brokerages recently issued reports on USCR. DA Davidson boosted their price objective on U.S. Concrete from $30.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, February 25th. Zacks Investment Research raised shares of U.S. Concrete from a “hold” rating to a “strong-buy” rating and set a $63.00 target price for the company in a research note on Wednesday, March 3rd. Finally, Truist lifted their price target on U.S. Concrete from $35.00 to $65.00 in a research note on Wednesday, April 14th.
U.S. Concrete stock traded up $1.81 during midday trading on Wednesday, hitting $63.64. 326,826 shares of the stock were exchanged, compared to its average volume of 382,831. The company has a fifty day simple moving average of $63.79 and a two-hundred day simple moving average of $46.62. The stock has a market capitalization of $1.08 billion, a PE ratio of 33.42 and a beta of 1.34. U.S. Concrete has a 52 week low of $14.77 and a 52 week high of $78.99. The company has a quick ratio of 0.96, a current ratio of 1.06 and a debt-to-equity ratio of 1.66.
In other U.S. Concrete news, VP Jeffrey W. Roberts sold 4,000 shares of the company’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $67.08, for a total transaction of $268,320.00. Following the sale, the vice president now directly owns 23,618 shares of the company’s stock, valued at $1,584,295.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Herbert A. Burton sold 500 shares of the stock in a transaction on Wednesday, April 7th. The shares were sold at an average price of $65.60, for a total transaction of $32,800.00. Following the completion of the sale, the vice president now owns 12,174 shares of the company’s stock, valued at approximately $798,614.40. The disclosure for this sale can be found here. Insiders sold 5,300 shares of company stock worth $345,210 over the last quarter. 5.30% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. SummerHaven Investment Management LLC bought a new stake in U.S. Concrete in the fourth quarter valued at approximately $680,000. AQR Capital Management LLC acquired a new stake in U.S. Concrete in the 3rd quarter worth about $270,000. Pacer Advisors Inc. raised its stake in U.S. Concrete by 29.7% in the 4th quarter. Pacer Advisors Inc. now owns 12,455 shares of the construction company’s stock worth $498,000 after purchasing an additional 2,855 shares in the last quarter. Truist Financial Corp boosted its holdings in U.S. Concrete by 10.3% in the 4th quarter. Truist Financial Corp now owns 37,273 shares of the construction company’s stock valued at $1,489,000 after purchasing an additional 3,467 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its stake in shares of U.S. Concrete by 5.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 17,850 shares of the construction company’s stock valued at $703,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 68.20% of the company’s stock.
About U.S. 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, the U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.
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