Concrete Pumping (NASDAQ:BBCP) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Concrete Pumping (NASDAQ:BBCP) issued its quarterly earnings results on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03, FiscalAI reports. Concrete Pumping had a net margin of 1.65% and a return on equity of 2.50%. The company had revenue of $106.80 million during the quarter, compared to analyst estimates of $96.71 million.

Concrete Pumping Price Performance

BBCP stock traded up $0.17 during mid-day trading on Thursday, reaching $7.98. 895,241 shares of the company traded hands, compared to its average volume of 124,230. The company has a fifty day moving average price of $7.51 and a 200-day moving average price of $6.92. Concrete Pumping has a 52-week low of $5.55 and a 52-week high of $8.13. The company has a market capitalization of $403.07 million, a P/E ratio of 88.67 and a beta of 0.94. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.96 and a quick ratio of 1.82.

Hedge Funds Weigh In On Concrete Pumping

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in Concrete Pumping by 97.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock worth $31,000 after purchasing an additional 2,187 shares in the last quarter. Acadian Asset Management LLC bought a new position in Concrete Pumping in the 1st quarter valued at $54,000. Mercer Global Advisors Inc. ADV bought a new position in Concrete Pumping in the 3rd quarter valued at $71,000. Verition Fund Management LLC bought a new position in Concrete Pumping in the 4th quarter valued at $69,000. Finally, Occudo Quantitative Strategies LP bought a new position in Concrete Pumping in the 3rd quarter valued at $74,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Concrete Pumping from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Robert W. Baird raised their price target on shares of Concrete Pumping from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Concrete Pumping in a research note on Friday, April 10th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Concrete Pumping currently has an average rating of “Hold” and an average price target of $8.25.

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.