Concrete Pumping (NASDAQ:BBCP) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Concrete Pumping (NASDAQ:BBCP) issued its quarterly earnings data on Tuesday. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01, Zacks reports. Concrete Pumping had a return on equity of 4.19% and a net margin of 2.65%.

Concrete Pumping Stock Down 1.2%

Concrete Pumping stock traded down $0.09 during trading on Tuesday, reaching $7.41. The stock had a trading volume of 104,745 shares, compared to its average volume of 81,103. Concrete Pumping has a 52-week low of $4.78 and a 52-week high of $9.68. The business has a 50 day moving average price of $6.61 and a 200 day moving average price of $6.77. The stock has a market cap of $381.39 million, a PE ratio of 46.32 and a beta of 1.04. The company has a quick ratio of 1.64, a current ratio of 1.75 and a debt-to-equity ratio of 1.60.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Concrete Pumping

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its stake in Concrete Pumping by 22.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 81,579 shares of the company’s stock valued at $575,000 after purchasing an additional 14,950 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Concrete Pumping during the 3rd quarter worth approximately $71,000. Occudo Quantitative Strategies LP purchased a new position in shares of Concrete Pumping in the 3rd quarter valued at approximately $74,000. BNP Paribas Financial Markets increased its holdings in shares of Concrete Pumping by 97.5% in the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock valued at $31,000 after purchasing an additional 2,187 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in shares of Concrete Pumping during the third quarter worth approximately $161,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

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.