$426.41 Million in Sales Expected for US Concrete Inc (USCR) This Quarter

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Equities research analysts expect US Concrete Inc (NASDAQ:USCR) to announce sales of $426.41 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for US Concrete’s earnings, with the lowest sales estimate coming in at $422.01 million and the highest estimate coming in at $433.21 million. US Concrete reported sales of $354.63 million during the same quarter last year, which indicates a positive year over year growth rate of 20.2%. The firm is scheduled to report its next quarterly earnings results on Friday, November 2nd.

On average, analysts expect that US Concrete will report full year sales of $1.55 billion for the current year, with estimates ranging from $1.55 billion to $1.56 billion. For the next year, analysts forecast that the firm will post sales of $1.67 billion, with estimates ranging from $1.64 billion to $1.69 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for US Concrete.

US Concrete (NASDAQ:USCR) last announced its quarterly earnings data on Tuesday, August 7th. The construction company reported $1.08 EPS for the quarter, missing the 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 firm had revenue of $404.20 million for the quarter, compared to analyst estimates of $390.55 million. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis.

Several research analysts have commented on the stock. 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. BidaskClub downgraded shares of US Concrete from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Citigroup lowered their price target on shares of US Concrete from $77.00 to $74.00 and set a “$53.95” rating for the company in a report on Monday, July 23rd. DA Davidson reiterated a “buy” rating and set a $87.00 price target (down from $95.00) on shares of US Concrete in a report on Thursday. Finally, Zacks Investment Research downgraded shares of US Concrete from a “hold” rating to a “sell” rating in a report on Saturday. Three analysts have rated the stock with a sell rating and four have given a buy rating to the company. US Concrete has a consensus rating of “Hold” and a consensus target price of $80.00.

USCR traded up $0.40 during trading on Monday, hitting $35.94. 505,761 shares of the stock traded hands, compared to its average volume of 383,019. US Concrete has a twelve month low of $35.46 and a twelve month high of $86.35. The company has a market cap of $771.10 million, a P/E ratio of 13.26, a P/E/G ratio of 1.26 and a beta of 1.06. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.41 and a quick ratio of 1.21.

In related news, CFO John E. Kunz purchased 1,000 shares of the stock in a transaction dated Thursday, August 9th. The stock was bought at an average cost of $51.76 per share, for a total transaction of $51,760.00. Following the completion of the acquisition, the chief financial officer now owns 13,356 shares of the company’s stock, valued at $691,306.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman William J. Sandbrook sold 9,000 shares of the company’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $51.45, for a total transaction of $463,050.00. Following the transaction, the chairman now owns 390,670 shares of the company’s stock, valued at $20,099,971.50. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 8,650 shares of company stock valued at $424,178 and have sold 9,260 shares valued at $476,128. 5.30% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Advisory Services Network LLC increased its holdings in US Concrete by 1,706.1% in the second quarter. Advisory Services Network LLC now owns 2,059 shares of the construction company’s stock valued at $105,000 after purchasing an additional 1,945 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in US Concrete in the second quarter valued at $154,000. SG Americas Securities LLC acquired a new stake in US Concrete in the second quarter valued at $181,000. GSA Capital Partners LLP acquired a new stake in US Concrete in the first quarter valued at $205,000. Finally, Stevens Capital Management LP acquired a new stake in US Concrete in the second quarter valued at $230,000.

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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