Concrete Pumping (NASDAQ:BBCP) Releases Earnings Results, Hits Expectations

Concrete Pumping (NASDAQ:BBCP – Get Rating) released its earnings results on Monday. The company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14, MarketWatch Earnings reports. The business had revenue of $114.89 million for the quarter, compared to the consensus estimate 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 Price Performance

Shares of NASDAQ BBCP opened at $7.78 on Wednesday. The business’s 50 day moving average price is $6.50 and its two-hundred day moving average price is $6.65. The company has a market cap of $440.35 million, a PE 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. Concrete Pumping has a twelve month low of $4.64 and a twelve month high of $8.26.

Hedge Funds Weigh In On Concrete Pumping

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its position 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 valued at $40,000 after purchasing an additional 2,295 shares during the last quarter. BNP Paribas Arbitrage SNC grew its position in shares of Concrete Pumping by 98.0% in the third quarter. BNP Paribas Arbitrage SNC now owns 12,939 shares of the company’s stock valued at $83,000 after purchasing an additional 6,403 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Concrete Pumping in the third quarter valued at approximately $119,000. Rhumbline Advisers boosted 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 valued at $185,000 after buying an additional 2,328 shares during the period. Finally, Ancora Advisors LLC boosted 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 valued at $479,000 after buying an additional 7,310 shares during the period. Institutional investors and hedge funds own 35.37% of the company’s stock.

Wall Street Analyst Weigh In

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

Concrete Pumping Company Profile

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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.