Zacks: Brokerages Anticipate US Concrete Inc (USCR) to Announce $0.90 Earnings Per Share

Wall Street brokerages forecast that US Concrete Inc (NASDAQ:USCR) will report $0.90 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for US Concrete’s earnings. The lowest EPS estimate is $0.86 and the highest is $0.97. US Concrete reported earnings per share of $0.82 in the same quarter last year, which suggests a positive year over year growth rate of 9.8%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that US Concrete will report full-year earnings of $3.39 per share for the current fiscal year, with EPS estimates ranging from $3.35 to $3.46. For the next financial year, analysts expect that the firm will report earnings of $4.74 per share, with EPS estimates ranging from $4.60 to $4.87. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for US Concrete.

US Concrete (NASDAQ:USCR) last posted its quarterly earnings data on Friday, November 3rd. The construction company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.47). US Concrete had a return on equity of 22.33% and a net margin of 0.99%. The company had revenue of $354.60 million during the quarter, compared to the consensus estimate of $364.16 million. During the same period last year, the business earned $1.19 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year.

Several research firms have recently commented on USCR. BidaskClub raised US Concrete from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. DA Davidson reissued a “buy” rating on shares of US Concrete in a research note on Monday, December 4th. ValuEngine downgraded US Concrete from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded US Concrete from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $98.00 target price on shares of US Concrete in a research note on Thursday, September 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $89.00.

In other US Concrete news, CEO William J. Sandbrook sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $82.91, for a total transaction of $746,190.00. Following the completion of the transaction, the chief executive officer now owns 410,611 shares in the company, valued at approximately $34,043,758.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Ronnie A. Pruitt sold 500 shares of US Concrete stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $80.20, for a total value of $40,100.00. Following the completion of the transaction, the chief operating officer now owns 18,156 shares of the company’s stock, valued at approximately $1,456,111.20. The disclosure for this sale can be found here. Insiders have sold a total of 76,504 shares of company stock valued at $6,242,367 in the last 90 days. 5.90% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in USCR. Janus Henderson Group PLC purchased a new position in shares of US Concrete in the 2nd quarter worth approximately $44,346,000. Point72 Asset Management L.P. boosted its holdings in shares of US Concrete by 163.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 532,742 shares of the construction company’s stock worth $40,648,000 after purchasing an additional 330,177 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of US Concrete by 495.6% in the 3rd quarter. Victory Capital Management Inc. now owns 379,520 shares of the construction company’s stock worth $28,958,000 after purchasing an additional 315,796 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of US Concrete by 131.8% in the 3rd quarter. Macquarie Group Ltd. now owns 284,450 shares of the construction company’s stock worth $21,704,000 after purchasing an additional 161,759 shares during the period. Finally, Hood River Capital Management LLC boosted its holdings in shares of US Concrete by 52.9% in the 2nd quarter. Hood River Capital Management LLC now owns 386,412 shares of the construction company’s stock worth $30,353,000 after purchasing an additional 133,660 shares during the period.

US Concrete (USCR) traded up $1.05 during midday trading on Friday, hitting $84.15. The stock had a trading volume of 276,000 shares, compared to its average volume of 328,367. The company has a debt-to-equity ratio of 2.35, a current ratio of 2.31 and a quick ratio of 2.12. US Concrete has a 1 year low of $57.95 and a 1 year high of $86.35. The company has a market capitalization of $1,400.00, a P/E ratio of 112.20, a P/E/G ratio of 1.87 and a beta of 1.31.

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About US Concrete

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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