$0.63 EPS Expected for U.S. Concrete, Inc. (NASDAQ:USCR) This Quarter

Wall Street brokerages expect U.S. Concrete, Inc. (NASDAQ:USCR) to announce $0.63 earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for U.S. Concrete’s earnings, with the lowest EPS estimate coming in at $0.56 and the highest estimate coming in at $0.69. U.S. Concrete posted earnings of $0.49 per share during the same quarter last year, which suggests a positive year over year growth rate of 28.6%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, August 3rd.

On average, analysts expect that U.S. Concrete will report full year earnings of $2.50 per share for the current year, with EPS estimates ranging from $2.32 to $2.83. For the next financial year, analysts expect that the firm will report earnings of $3.23 per share, with EPS estimates ranging from $2.92 to $3.63. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow U.S. Concrete.

U.S. Concrete (NASDAQ:USCR) last announced its quarterly earnings data on Thursday, May 6th. The construction company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.22. U.S. Concrete had a return on equity of 6.07% and a net margin of 1.81%. The business had revenue of $287.50 million during the quarter, compared to analyst estimates of $307.24 million. During the same period last year, the company earned ($0.04) earnings per share. U.S. Concrete’s quarterly revenue was down 13.8% compared to the same quarter last year.

USCR has been the topic of several recent research reports. Truist raised their target price on U.S. Concrete from $35.00 to $65.00 in a report on Wednesday, April 14th. Zacks Investment Research lowered U.S. Concrete from a “buy” rating to a “hold” rating in a report on Friday, July 9th. DA Davidson raised their target price on U.S. Concrete from $55.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, June 8th. Finally, CJS Securities lowered U.S. Concrete from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 15th. Five investment analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of $51.60.

In other news, VP Herbert A. Burton sold 501 shares of U.S. Concrete stock in a transaction dated Friday, July 2nd. The stock was sold at an average price of $73.76, for a total value of $36,953.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Herbert A. Burton sold 499 shares of U.S. Concrete stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $57.80, for a total value of $28,842.20. Following the completion of the transaction, the vice president now owns 13,237 shares in the company, valued at $765,098.60. The disclosure for this sale can be found here. Insiders sold 1,900 shares of company stock worth $125,178 over the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Baystate Wealth Management LLC acquired a new stake in U.S. Concrete during the first quarter worth about $25,000. Vantage Consulting Group Inc acquired a new stake in U.S. Concrete during the fourth quarter worth about $37,000. IronBridge Private Wealth LLC acquired a new stake in U.S. Concrete during the fourth quarter worth about $44,000. Fifth Third Bancorp acquired a new stake in U.S. Concrete during the first quarter worth about $74,000. Finally, NEXT Financial Group Inc grew its position in U.S. Concrete by 623.3% during the first quarter. NEXT Financial Group Inc now owns 1,085 shares of the construction company’s stock worth $80,000 after buying an additional 935 shares in the last quarter. Institutional investors and hedge funds own 70.66% of the company’s stock.

NASDAQ USCR traded down $0.29 during trading on Friday, hitting $73.46. 2,620 shares of the company traded hands, compared to its average volume of 346,657. U.S. Concrete has a 12 month low of $23.83 and a 12 month high of $78.99. The business’s fifty day simple moving average is $67.99. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.34 and a quick ratio of 1.03. The company has a market cap of $1.25 billion, a P/E ratio of 50.72 and a beta of 1.37.

About U.S. Concrete

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, the U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.

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