$1.40 EPS Expected for US Concrete Inc (NASDAQ:USCR) This Quarter

Wall Street brokerages expect US Concrete Inc (NASDAQ:USCR) to report earnings per share of $1.40 for the current quarter, Zacks reports. Three analysts have provided estimates for US Concrete’s earnings, with the lowest EPS estimate coming in at $1.20 and the highest estimate coming in at $1.59. US Concrete reported earnings per share of $0.73 in the same quarter last year, which suggests a positive year-over-year growth rate of 91.8%. The firm is expected to issue its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that US Concrete will report full-year earnings of $2.81 per share for the current fiscal year, with EPS estimates ranging from $2.50 to $3.12. For the next year, analysts forecast that the business will post earnings of $3.81 per share, with EPS estimates ranging from $3.40 to $4.20. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for US Concrete.

US Concrete (NASDAQ:USCR) last posted its quarterly earnings data on Friday, August 9th. The construction company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.62). The firm had revenue of $367.50 million for the quarter, compared to analysts’ expectations of $408.18 million. US Concrete had a return on equity of 3.05% and a net margin of 1.06%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 earnings per share.

USCR has been the topic of several recent analyst reports. Zacks Investment Research restated a “sell” rating on shares of US Concrete in a report on Saturday, July 27th. ValuEngine upgraded US Concrete from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. BidaskClub lowered US Concrete from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Stifel Nicolaus lowered US Concrete from a “buy” rating to a “hold” rating and increased their target price for the company from $51.00 to $53.00 in a research report on Thursday, July 18th. Finally, SunTrust Banks lowered US Concrete from a “positive” rating to a “hold” rating and set a $43.00 price objective on the stock. in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $54.60.

NASDAQ:USCR traded down $2.43 during mid-day trading on Friday, reaching $41.66. The company’s stock had a trading volume of 168,805 shares, compared to its average volume of 241,038. The firm has a market capitalization of $752.18 million, a PE ratio of 21.59 and a beta of 1.22. The company has a quick ratio of 1.09, a current ratio of 1.29 and a debt-to-equity ratio of 2.16. The stock has a fifty day moving average of $47.19 and a 200-day moving average of $45.06. US Concrete has a 1 year low of $27.68 and a 1 year high of $54.95.

In other news, COO Ronnie A. Pruitt sold 4,563 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $46.26, for a total value of $211,084.38. Following the sale, the chief operating officer now directly owns 21,310 shares in the company, valued at $985,800.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John E. Kunz sold 1,982 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $47.33, for a total value of $93,808.06. Following the completion of the transaction, the chief financial officer now owns 12,592 shares of the company’s stock, valued at $595,979.36. The disclosure for this sale can be found here. In the last three months, insiders sold 12,348 shares of company stock worth $574,815. Corporate insiders own 4.70% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Texas Permanent School Fund boosted its holdings in US Concrete by 2.7% in the first quarter. Texas Permanent School Fund now owns 10,738 shares of the construction company’s stock valued at $445,000 after purchasing an additional 282 shares during the last quarter. Advisory Services Network LLC increased its position in shares of US Concrete by 15.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,873 shares of the construction company’s stock valued at $142,000 after purchasing an additional 375 shares during the period. Comerica Bank boosted its stake in shares of US Concrete by 2.8% during the 1st quarter. Comerica Bank now owns 16,073 shares of the construction company’s stock worth $705,000 after acquiring an additional 434 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of US Concrete during the 2nd quarter worth $29,000. Finally, John G Ullman & Associates Inc. boosted its position in shares of US Concrete by 9.7% in the second quarter. John G Ullman & Associates Inc. now owns 6,800 shares of the construction company’s stock worth $338,000 after buying an additional 600 shares during the period. Institutional investors own 94.49% of the company’s stock.

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, U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.

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