Zacks: Brokerages Anticipate U S Concrete, Inc. (NASDAQ:USCR) to Announce $0.83 Earnings Per Share
Equities research analysts expect that U S Concrete, Inc. (NASDAQ:USCR) will announce earnings of $0.83 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for U S Concrete’s earnings, with estimates ranging from $0.74 to $0.94. U S Concrete posted earnings of $0.42 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 97.6%. The firm is scheduled to report its next earnings report on Thursday, August 3rd.
On average, analysts expect that U S Concrete will report full-year earnings of $3.92 per share for the current year, with EPS estimates ranging from $3.73 to $4.03. For the next year, analysts anticipate that the firm will post earnings of $4.45 per share. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow U S Concrete.
U S Concrete (NASDAQ:USCR) last issued its quarterly earnings results on Thursday, May 4th. The construction company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.44. U S Concrete had a return on equity of 24.23% and a net margin of 2.11%. The company had revenue of $299.10 million for the quarter, compared to analysts’ expectations of $274.88 million. During the same period last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis.
USCR has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of U S Concrete from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. BidaskClub upgraded shares of U S Concrete from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Finally, TheStreet upgraded shares of U S Concrete from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $78.00.
U S Concrete (NASDAQ:USCR) traded down 0.38% during midday trading on Friday, hitting $77.85. The stock had a trading volume of 46,709 shares. The company has a market cap of $1.21 billion, a P/E ratio of 50.00 and a beta of 1.24. U S Concrete has a one year low of $42.82 and a one year high of $80.45. The stock’s 50-day moving average is $74.87 and its 200-day moving average is $67.47.
In other U S Concrete news, VP Jeffrey W. Roberts sold 2,394 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $68.00, for a total transaction of $162,792.00. Following the completion of the sale, the vice president now owns 34,422 shares in the company, valued at approximately $2,340,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William J. Sandbrook sold 6,500 shares of the company’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $63.21, for a total transaction of $410,865.00. Following the sale, the chief executive officer now owns 443,892 shares of the company’s stock, valued at approximately $28,058,413.32. The disclosure for this sale can be found here. Insiders have sold a total of 22,844 shares of company stock valued at $1,599,583 in the last quarter. Corporate insiders own 5.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Dubuque Bank & Trust Co. boosted its stake in shares of U S Concrete by 105.6% in the second quarter. Dubuque Bank & Trust Co. now owns 5,365 shares of the construction company’s stock valued at $421,000 after buying an additional 2,755 shares during the last quarter. Kirr Marbach & Co. LLC IN acquired a new stake in shares of U S Concrete during the second quarter valued at approximately $359,000. Louisiana State Employees Retirement System boosted its stake in shares of U S Concrete by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 6,100 shares of the construction company’s stock valued at $479,000 after buying an additional 100 shares during the last quarter. Crow Point Partners LLC acquired a new stake in shares of U S Concrete during the second quarter valued at approximately $147,000. Finally, Eqis Capital Management Inc. acquired a new stake in shares of U S Concrete during the second quarter valued at approximately $239,000.
U S Concrete Company Profile
U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
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