Concrete Pumping (NASDAQ:BBCP) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Concrete Pumping (NASDAQ:BBCPGet Rating) announced its quarterly earnings data on Thursday. The company reported $0.24 earnings per share for the quarter, topping 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 in the previous year, the firm earned $0.07 EPS. Concrete Pumping updated its FY 2022 guidance to EPS.

Concrete Pumping Stock Performance

BBCP stock 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 business’s fifty day simple moving average is $6.69 and its two-hundred day simple moving average is $6.33. Concrete Pumping has a twelve month low of $4.64 and a twelve month high of $9.70. The firm has a market cap of $398.96 million, a price-to-earnings ratio of 17.60 and a beta of 0.95.

Analyst Upgrades and Downgrades

Separately, DA Davidson cut their price target on Concrete Pumping to $10.00 in a research note on Thursday, June 9th.

Institutional Trading of Concrete Pumping

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its position in shares of Concrete Pumping by 2.4% during the 2nd quarter. State Street Corp now owns 472,020 shares of the company’s stock worth $2,860,000 after buying an additional 11,084 shares in the last quarter. Millennium Management LLC bought a new position in shares of Concrete Pumping during the 2nd quarter worth $848,000. Northern Trust Corp grew its position in shares of Concrete Pumping by 1.3% during the 2nd quarter. Northern Trust Corp now owns 222,214 shares of the company’s stock worth $1,347,000 after buying an additional 2,782 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Concrete Pumping by 54.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,536 shares of the company’s stock worth $40,000 after buying an additional 2,295 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Concrete Pumping by 31.3% during the 2nd quarter. Rhumbline Advisers now owns 36,313 shares of the company’s stock worth $220,000 after buying an additional 8,653 shares in the last quarter. Hedge funds and other institutional investors own 35.60% of the company’s stock.

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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