Equities research analysts expect that US Concrete Inc (NASDAQ:USCR) will announce $414.02 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for US Concrete’s earnings, with estimates ranging from $402.82 million to $424.00 million. US Concrete posted sales of $354.63 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.7%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, November 1st.
According to Zacks, analysts expect that US Concrete will report full-year sales of $1.54 billion for the current financial year, with estimates ranging from $1.51 billion to $1.56 billion. For the next fiscal year, analysts expect that the business will report sales of $1.65 billion, with estimates ranging from $1.63 billion to $1.68 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for US Concrete.
US Concrete (NASDAQ:USCR) last posted its quarterly earnings data on Tuesday, August 7th. The construction company reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by ($0.21). US Concrete had a net margin of 2.34% and a return on equity of 12.82%. The business had revenue of $404.20 million for the quarter, compared to the consensus estimate of $390.55 million. During the same quarter last year, the business posted $0.95 EPS. The business’s revenue for the quarter was up 18.6% on a year-over-year basis.
Several research firms have recently weighed in on USCR. Citigroup reduced their price objective on shares of US Concrete from $77.00 to $74.00 and set a “$53.95” rating for the company in a research report on Monday, July 23rd. BidaskClub upgraded shares of US Concrete from a “strong sell” rating to a “sell” rating in a research report on Friday, August 10th. Zacks Investment Research lowered shares of US Concrete from a “hold” rating to a “sell” rating in a research report on Saturday, October 13th. Sidoti began coverage on shares of US Concrete in a research report on Monday, October 15th. They set a “buy” rating for the company. Finally, SunTrust Banks set a $70.00 price objective on shares of US Concrete and gave the company a “buy” rating in a research report on Monday, August 6th. Three analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $80.00.
NASDAQ:USCR opened at $32.64 on Thursday. US Concrete has a twelve month low of $27.68 and a twelve month high of $86.35. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.41 and a quick ratio of 1.21. The stock has a market cap of $495.96 million, a PE ratio of 12.04, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06.
In other news, Director Kurt Matthew Cellar acquired 5,000 shares of US Concrete stock in a transaction on Thursday, September 6th. The stock was bought at an average cost of $48.40 per share, with a total value of $242,000.00. Following the completion of the purchase, the director now owns 47,309 shares of the company’s stock, valued at $2,289,755.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John E. Kunz acquired 1,000 shares of US Concrete stock in a transaction on Thursday, August 9th. The shares were purchased at an average cost of $51.76 per share, with a total value of $51,760.00. Following the completion of the purchase, the chief financial officer now directly owns 13,356 shares of the company’s stock, valued at approximately $691,306.56. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 8,650 shares of company stock valued at $424,178 and have sold 390 shares valued at $17,846. 5.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in US Concrete by 9.1% during the second quarter. BlackRock Inc. now owns 2,201,224 shares of the construction company’s stock valued at $115,564,000 after buying an additional 184,453 shares in the last quarter. Putnam Investments LLC raised its position in US Concrete by 165.0% during the second quarter. Putnam Investments LLC now owns 139,657 shares of the construction company’s stock valued at $7,332,000 after acquiring an additional 86,957 shares in the last quarter. Victory Capital Management Inc. raised its position in US Concrete by 53.7% during the second quarter. Victory Capital Management Inc. now owns 31,727 shares of the construction company’s stock valued at $1,666,000 after acquiring an additional 11,080 shares in the last quarter. Monarch Partners Asset Management LLC raised its position in US Concrete by 179.7% during the second quarter. Monarch Partners Asset Management LLC now owns 82,377 shares of the construction company’s stock valued at $4,325,000 after acquiring an additional 52,920 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in US Concrete by 9.9% during the second quarter. Sterling Capital Management LLC now owns 254,200 shares of the construction company’s stock valued at $13,345,000 after acquiring an additional 23,000 shares in the last quarter.
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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