Concrete Pumping (NASDAQ:BBCP) Issues Quarterly Earnings Results

Concrete Pumping (NASDAQ:BBCP – Get Rating) announced its quarterly earnings results on Monday. The company reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14, MarketWatch Earnings reports. The company had revenue of $114.89 million during the quarter, compared to analyst estimates of $102.16 million. Concrete Pumping had a return on equity of 8.91% and a net margin of 7.42%. Concrete Pumping updated its FY 2023 guidance to EPS.

Concrete Pumping Trading Up 19.5 %

Shares of Concrete Pumping stock opened at $7.78 on Wednesday. The business has a fifty day simple moving average of $6.50 and a 200-day simple moving average of $6.65. Concrete Pumping has a fifty-two week low of $4.64 and a fifty-two week high of $8.26. The firm has a market cap of $440.35 million, a price-to-earnings ratio of 19.45 and a beta of 0.95. The company has a quick ratio of 0.94, a current ratio of 0.98 and a debt-to-equity ratio of 1.34.

Analyst Ratings Changes

A number of brokerages recently issued reports on BBCP. TheStreet lowered shares of Concrete Pumping from a “b-” rating to a “c+” rating in a research report on Tuesday, December 27th. Robert W. Baird increased their price objective on shares of Concrete Pumping from $7.00 to $7.50 and gave the company an “outperform” rating in a report on Tuesday.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its holdings in Concrete Pumping by 54.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,536 shares of the company’s stock valued at $40,000 after acquiring an additional 2,295 shares during the last quarter. BNP Paribas Arbitrage SNC lifted its position in shares of Concrete Pumping by 98.0% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 12,939 shares of the company’s stock valued at $83,000 after acquiring an additional 6,403 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Concrete Pumping in the 3rd quarter worth $119,000. Rhumbline Advisers raised its position in shares of Concrete Pumping by 9.2% during 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. Finally, Ancora Advisors LLC boosted its position in shares of Concrete Pumping by 12.7% in the 1st quarter. Ancora Advisors LLC now owns 64,656 shares of the company’s stock valued at $479,000 after purchasing an additional 7,310 shares during the period. 35.37% of the stock is owned by institutional investors and hedge funds.

Concrete Pumping Company Profile

(Get Rating)

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.