Concrete Pumping (NASDAQ:BBCP) Posts Earnings Results, Hits Estimates

Concrete Pumping (NASDAQ:BBCP – Get Rating) announced its earnings results on Monday. The company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14, MarketWatch Earnings reports. The firm had revenue of $114.89 million for the quarter, compared to analysts’ expectations 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 Stock Up 19.5 %

BBCP stock opened at $7.78 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.98 and a quick ratio of 0.94. The firm has a market cap of $440.35 million, a PE ratio of 19.45 and a beta of 0.95. Concrete Pumping has a 12 month low of $4.64 and a 12 month high of $8.26. The firm has a 50 day simple moving average of $6.50 and a 200 day simple moving average of $6.65.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in shares of Concrete Pumping by 9.2% during the 1st quarter. Rhumbline Advisers now owns 27,660 shares of the company’s stock worth $185,000 after acquiring an additional 2,328 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Concrete Pumping by 30.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 356,357 shares of the company’s stock valued at $2,388,000 after purchasing an additional 83,867 shares during the period. Ancora Advisors LLC increased its stake in Concrete Pumping by 12.7% in the 1st quarter. Ancora Advisors LLC now owns 64,656 shares of the company’s stock worth $479,000 after purchasing an additional 7,310 shares in the last quarter. State Street Corp raised its holdings in Concrete Pumping by 1.7% during the 1st quarter. State Street Corp now owns 460,936 shares of the company’s stock worth $3,088,000 after buying an additional 7,556 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in 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 during the period. Institutional investors own 35.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BBCP. TheStreet downgraded Concrete Pumping from a “b-” rating to a “c+” rating in a research note on Tuesday, December 27th. Robert W. Baird boosted their price target on shares of Concrete Pumping from $7.00 to $7.50 and gave the stock an “outperform” rating in a research report on Tuesday.

About Concrete Pumping

(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.