Concrete Pumping (NASDAQ:BBCP) Issues Quarterly Earnings Results

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

Concrete Pumping Stock Performance

NASDAQ BBCP opened at $5.26 on Friday. The company has a fifty day moving average price of $6.23 and a 200-day moving average price of $6.88. The firm has a market cap of $284.67 million, a price-to-earnings ratio of 16.97 and a beta of 1.11. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.24 and a quick ratio of 1.17. Concrete Pumping has a 1 year low of $5.05 and a 1 year high of $9.15.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Stifel Nicolaus cut their target price 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. UBS Group downgraded Concrete Pumping from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $10.50 to $6.25 in a research note on Friday. Robert W. Baird reduced their price objective on Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Thursday. William Blair cut Concrete Pumping from an “outperform” rating to a “market perform” rating in a report on Friday, June 7th. Finally, DA Davidson dropped their price objective on shares of Concrete Pumping from $9.00 to $8.50 and set a “buy” rating on the stock in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.55.

About Concrete Pumping

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.