Brokerages Expect US Concrete Inc (USCR) Will Post Earnings of $1.55 Per Share
Equities research analysts predict that US Concrete Inc (NASDAQ:USCR) will post $1.55 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for US Concrete’s earnings, with the lowest EPS estimate coming in at $1.49 and the highest estimate coming in at $1.59. US Concrete posted earnings per share of $0.99 in the same quarter last year, which would suggest a positive year-over-year growth rate of 56.6%. The company is expected to report its next earnings report on Friday, November 2nd.
According to Zacks, analysts expect that US Concrete will report full year earnings of $3.97 per share for the current fiscal year, with EPS estimates ranging from $3.87 to $4.13. For the next financial year, analysts forecast that the business will report earnings of $5.55 per share, with EPS estimates ranging from $4.96 to $6.95. Zacks’ earnings per share calculations are an average based on a survey of analysts that that provide coverage for US Concrete.
US Concrete (NASDAQ:USCR) last issued its quarterly earnings results on Tuesday, August 7th. The construction company reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.21). The company had revenue of $404.20 million during the quarter, compared to analysts’ expectations of $390.55 million. US Concrete had a return on equity of 12.82% and a net margin of 2.34%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS.
In related news, Chairman William J. Sandbrook sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $50.39, for a total value of $453,510.00. Following the completion of the sale, the chairman now owns 403,915 shares of the company’s stock, valued at approximately $20,353,276.85. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John E. Kunz purchased 1,000 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was purchased at an average cost of $51.76 per share, with a total value of $51,760.00. Following the purchase, the chief financial officer now owns 13,356 shares in the company, valued at approximately $691,306.56. The disclosure for this purchase can be found here. In the last three months, insiders purchased 8,650 shares of company stock valued at $424,178 and sold 18,390 shares valued at $936,288. Insiders own 5.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in USCR. Barclays PLC lifted its holdings in US Concrete by 9.5% in the 1st quarter. Barclays PLC now owns 13,021 shares of the construction company’s stock worth $788,000 after purchasing an additional 1,134 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of US Concrete by 33.5% during the first quarter. LPL Financial LLC now owns 4,679 shares of the construction company’s stock worth $283,000 after buying an additional 1,173 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of US Concrete by 3.5% during the first quarter. Rhumbline Advisers now owns 36,530 shares of the construction company’s stock worth $2,206,000 after buying an additional 1,237 shares during the last quarter. Symphony Asset Management LLC lifted its holdings in shares of US Concrete by 30.1% during the first quarter. Symphony Asset Management LLC now owns 6,007 shares of the construction company’s stock worth $363,000 after buying an additional 1,390 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of US Concrete by 7.6% during the first quarter. Royal Bank of Canada now owns 24,994 shares of the construction company’s stock worth $1,509,000 after buying an additional 1,771 shares during the last quarter.
Shares of USCR opened at $51.85 on Wednesday. The stock has a market capitalization of $872.01 million, a P/E ratio of 19.13, a P/E/G ratio of 1.43 and a beta of 1.05. US Concrete has a 1-year low of $44.00 and a 1-year high of $86.35. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.21 and a current ratio of 1.41.
US Concrete Company Profile
U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.
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