U S Concrete, Inc. (USCR) Expected to Post Earnings of $1.43 Per Share
Analysts forecast that U S Concrete, Inc. (NASDAQ:USCR) will post $1.43 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for U S Concrete’s earnings, with estimates ranging from $1.26 to $1.52. U S Concrete posted earnings per share of $1.19 during the same quarter last year, which suggests a positive year-over-year growth rate of 20.2%. The business is expected to report its next earnings results on Thursday, November 2nd.
On average, analysts expect that U S Concrete will report full year earnings of $4.04 per share for the current financial year, with EPS estimates ranging from $3.95 to $4.14. For the next year, analysts anticipate that the business will post earnings of $5.25 per share, with EPS estimates ranging from $4.92 to $5.74. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover U S Concrete.
U S Concrete (NASDAQ:USCR) last posted its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.09. U S Concrete had a net margin of 2.09% and a return on equity of 25.80%. The company had revenue of $340.90 million during the quarter, compared to the consensus estimate of $342.60 million. During the same period last year, the firm earned $0.54 EPS. The company’s revenue for the quarter was up 23.6% on a year-over-year basis.
Several research firms have recently issued reports on USCR. ValuEngine cut shares of U S Concrete from a “buy” rating to a “hold” rating in a report on Monday. Stifel Nicolaus reissued a “buy” rating and set a $98.00 target price on shares of U S Concrete in a research note on Thursday, September 28th. Zacks Investment Research raised shares of U S Concrete from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Tuesday, August 15th. Citigroup Inc. increased their target price on shares of U S Concrete to $92.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, BidaskClub lowered shares of U S Concrete from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $89.00.
Shares of U S Concrete (NASDAQ USCR) opened at 76.60 on Thursday. The firm has a market capitalization of $1.20 billion, a P/E ratio of 48.54 and a beta of 1.21. The stock’s 50 day moving average is $75.53 and its 200-day moving average is $71.82. U S Concrete has a 52-week low of $44.10 and a 52-week high of $83.85.
In related news, CEO William J. Sandbrook sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $75.80, for a total value of $492,700.00. Following the completion of the sale, the chief executive officer now owns 412,091 shares in the company, valued at approximately $31,236,497.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David Andrew Behring sold 361 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $81.56, for a total transaction of $29,443.16. Following the completion of the sale, the vice president now owns 10,804 shares of the company’s stock, valued at approximately $881,174.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,561 shares of company stock valued at $1,110,748. Company insiders own 5.90% of the company’s stock.
Several large investors have recently modified their holdings of USCR. Ameritas Investment Partners Inc. lifted its position in shares of U S Concrete by 15.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,337 shares of the construction company’s stock valued at $105,000 after acquiring an additional 177 shares in the last quarter. Crow Point Partners LLC purchased a new stake in U S Concrete in the 2nd quarter worth approximately $147,000. Pinebridge Investments L.P. lifted its position in U S Concrete by 2.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock worth $154,000 after buying an additional 53 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in U S Concrete in the 2nd quarter worth approximately $196,000. Finally, Municipal Employees Retirement System of Michigan lifted its position in U S Concrete by 2.2% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 3,250 shares of the construction company’s stock worth $210,000 after buying an additional 70 shares in the last quarter.
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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