U S Concrete, Inc. (USCR) Posts Earnings Results, Misses Estimates By $0.47 EPS
U S Concrete, Inc. (NASDAQ:USCR) posted its quarterly earnings results on Friday. The construction company reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.46 by ($0.47), Bloomberg Earnings reports. U S Concrete had a return on equity of 25.80% and a net margin of 2.09%. The company had revenue of $354.60 million for the quarter, compared to analyst estimates of $364.16 million. During the same period last year, the company earned $1.19 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year.
Shares of U S Concrete (USCR) traded up $0.35 during midday trading on Friday, reaching $77.80. 483,670 shares of the company were exchanged, compared to its average volume of 208,793. The stock has a market capitalization of $1,237.91, a price-to-earnings ratio of 24.48 and a beta of 1.32.
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In related news, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $75.80, for a total value of $492,700.00. Following the sale, the chief executive officer now directly owns 412,091 shares of the company’s stock, valued at approximately $31,236,497.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP David Andrew Behring sold 361 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $81.56, for a total transaction of $29,443.16. Following the completion of the sale, the vice president now directly owns 10,804 shares in the company, valued at $881,174.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,061 shares of company stock worth $614,718. 5.90% of the stock is owned by corporate insiders.
A number of research firms have recently weighed in on USCR. Citigroup Inc. upped their price target on shares of U S Concrete to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of U S Concrete from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Tuesday, August 15th. BidaskClub cut shares of U S Concrete from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine cut shares of U S Concrete from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $98.00 price target on shares of U S Concrete in a research note on Thursday, September 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. U S Concrete currently has a consensus rating of “Buy” and an average price target of $89.00.
U S Concrete Company Profile
U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
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