Concrete Pumping (NASDAQ:BBCP) Announces Earnings Results

Concrete Pumping (NASDAQ:BBCPGet Rating) announced its quarterly earnings results on Thursday. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.12, Fidelity Earnings reports. Concrete Pumping had a net margin of 6.59% and a return on equity of 7.13%. During the same period last year, the firm posted $0.07 EPS. Concrete Pumping updated its FY 2022 guidance to EPS.

Concrete Pumping Stock Up 4.5 %

Shares of BBCP opened at $7.04 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The company’s fifty day moving average is $6.69 and its two-hundred day moving average is $6.33. The firm has a market cap of $398.96 million, a PE ratio of 17.60 and a beta of 0.95. Concrete Pumping has a fifty-two week low of $4.64 and a fifty-two week high of $9.70.

Hedge Funds Weigh In On Concrete Pumping

Institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its stake in shares of Concrete Pumping by 54.1% in the second quarter. BNP Paribas Arbitrage SA now owns 6,536 shares of the company’s stock worth $40,000 after purchasing an additional 2,295 shares during the period. Rhumbline Advisers increased its stake in shares of Concrete Pumping by 9.2% in the first quarter. Rhumbline Advisers now owns 27,660 shares of the company’s stock worth $185,000 after purchasing an additional 2,328 shares during the period. Ancora Advisors LLC increased its stake in shares of Concrete Pumping by 12.7% in the first quarter. Ancora Advisors LLC now owns 64,656 shares of the company’s stock worth $479,000 after purchasing an additional 7,310 shares during the period. Millennium Management LLC bought a new position in shares of Concrete Pumping in the second quarter worth about $848,000. Finally, Northern Trust Corp increased its stake in shares of Concrete Pumping by 1.3% in the second quarter. Northern Trust Corp now owns 222,214 shares of the company’s stock worth $1,347,000 after purchasing an additional 2,782 shares during the period. 35.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson decreased their price target on shares of Concrete Pumping to $10.00 in a report on Thursday, June 9th.

About Concrete Pumping

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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.

Further Reading

Earnings History for Concrete Pumping (NASDAQ:BBCP)

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