Analysts Anticipate Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Will Post Quarterly Sales of $69.07 Million

Brokerages expect Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) to post sales of $69.07 million for the current quarter, according to Zacks. Four analysts have issued estimates for Concrete Pumping’s earnings. The lowest sales estimate is $67.19 million and the highest is $72.20 million. Concrete Pumping posted sales of $73.94 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 6.6%. The company is scheduled to issue its next earnings report on Wednesday, March 10th.

According to Zacks, analysts expect that Concrete Pumping will report full-year sales of $306.81 million for the current financial year, with estimates ranging from $300.54 million to $310.45 million. For the next fiscal year, analysts expect that the firm will post sales of $319.90 million, with estimates ranging from $311.33 million to $325.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Concrete Pumping.

Concrete Pumping (NASDAQ:BBCP) last announced its earnings results on Monday, January 11th. The company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.10). Concrete Pumping had a negative net margin of 20.04% and a negative return on equity of 2.09%. The business had revenue of $79.19 million during the quarter, compared to analyst estimates of $79.85 million.

Several equities analysts have recently weighed in on the company. DA Davidson upgraded Concrete Pumping from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Monday, December 14th. B. Riley cut their target price on Concrete Pumping from $6.75 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, January 13th. Robert W. Baird upgraded Concrete Pumping from a “neutral” rating to an “outperform” rating and set a $5.00 target price on the stock in a research note on Tuesday, January 5th. Finally, Zacks Investment Research cut Concrete Pumping from a “buy” rating to a “hold” rating in a research note on Friday, January 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $5.29.

BBCP stock traded down $0.09 during midday trading on Friday, reaching $6.40. The stock had a trading volume of 4,773 shares, compared to its average volume of 248,473. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 1.26. Concrete Pumping has a twelve month low of $1.82 and a twelve month high of $6.97. The firm has a market cap of $361.40 million, a price-to-earnings ratio of -5.41 and a beta of 1.24. The business has a fifty day simple moving average of $5.46 and a two-hundred day simple moving average of $4.14.

Several large investors have recently bought and sold shares of the business. Rhumbline Advisers increased its position in shares of Concrete Pumping by 21.6% during the 4th quarter. Rhumbline Advisers now owns 30,809 shares of the company’s stock worth $118,000 after purchasing an additional 5,473 shares during the last quarter. Bank of America Corp DE increased its position in shares of Concrete Pumping by 108.9% during the 2nd quarter. Bank of America Corp DE now owns 11,568 shares of the company’s stock worth $40,000 after purchasing an additional 6,030 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Concrete Pumping by 39.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,059 shares of the company’s stock worth $84,000 after purchasing an additional 6,498 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Concrete Pumping by 11.5% during the 4th quarter. HighTower Advisors LLC now owns 78,440 shares of the company’s stock worth $299,000 after purchasing an additional 8,080 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Concrete Pumping during the 3rd quarter worth approximately $32,000. 24.76% of the stock is currently owned by hedge funds and other institutional investors.

About Concrete Pumping

Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Camfaud brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.

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