Concrete Pumping (NASDAQ:BBCP) Announces Quarterly Earnings Results

Concrete Pumping (NASDAQ:BBCP) posted its earnings results on Wednesday. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.05), Yahoo Finance reports. The company had revenue of $109.62 million for the quarter, compared to the consensus estimate of $126.10 million. Concrete Pumping had a net margin of 4.25% and a return on equity of 6.83%. During the same quarter in the prior year, the company posted $0.17 EPS. Concrete Pumping updated its FY 2024 guidance to EPS.

Concrete Pumping Stock Performance

Concrete Pumping stock traded down $0.59 during midday trading on Thursday, hitting $5.15. The stock had a trading volume of 50,183 shares, compared to its average volume of 100,459. The firm’s fifty day moving average is $6.27 and its two-hundred day moving average is $6.91. The company has a market capitalization of $278.72 million, a PE ratio of 17.10 and a beta of 1.10. Concrete Pumping has a 52-week low of $5.05 and a 52-week high of $9.15. The company has a current ratio of 1.24, a quick ratio of 1.17 and a debt-to-equity ratio of 1.21.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BBCP. DA Davidson lowered their price objective on shares of Concrete Pumping from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Stifel Nicolaus lowered their price objective on shares of Concrete Pumping from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Robert W. Baird lowered their price objective on shares of Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday. Finally, William Blair cut shares of Concrete Pumping from an “outperform” rating to a “market perform” rating in a research note on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Concrete Pumping presently has an average rating of “Hold” and an average price target of $8.00.

Concrete Pumping Company Profile

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 Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.