Q3 2019 Earnings Forecast for Concrete Pumping Holdings Inc (NASDAQ:BBCP) Issued By William Blair

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Concrete Pumping Holdings Inc (NASDAQ:BBCP) – Analysts at William Blair lifted their Q3 2019 earnings estimates for shares of Concrete Pumping in a note issued to investors on Monday, June 10th. William Blair analyst T. Mulrooney now anticipates that the company will post earnings per share of $0.10 for the quarter, up from their previous forecast of $0.06. William Blair currently has a “Outperform” rating and a $5.31 target price on the stock.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings results on Monday, June 10th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.39). The company had revenue of $61.99 million for the quarter, compared to analyst estimates of $62.97 million.

A number of other brokerages also recently weighed in on BBCP. Zacks Investment Research downgraded shares of Concrete Pumping from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Stifel Nicolaus assumed coverage on shares of Concrete Pumping in a report on Thursday, May 23rd. They set a “buy” rating and a $9.00 target price on the stock. ValuEngine downgraded shares of Concrete Pumping from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, Robert W. Baird assumed coverage on shares of Concrete Pumping in a report on Monday, May 13th. They set an “outperform” rating and a $7.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $8.33.

Shares of NASDAQ:BBCP opened at $4.03 on Wednesday. The company has a market capitalization of $219.24 million, a P/E ratio of 1.63 and a beta of 0.73. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.77. Concrete Pumping has a fifty-two week low of $3.64 and a fifty-two week high of $15.25.

In related news, CEO Bruce F. Young bought 200,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $4.50 per share, for a total transaction of $900,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David A. B. Brown bought 27,726 shares of the company’s stock in a transaction on Friday, May 10th. The shares were bought at an average price of $4.99 per share, for a total transaction of $138,352.74. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,861,716 shares of company stock worth $8,396,072 over the last 90 days.

A number of hedge funds have recently made changes to their positions in BBCP. Citigroup Inc. bought a new position in shares of Concrete Pumping during the 1st quarter worth approximately $35,000. ExodusPoint Capital Management LP bought a new position in shares of Concrete Pumping during the 1st quarter worth approximately $137,000. BlueCrest Capital Management Ltd bought a new position in shares of Concrete Pumping during the 1st quarter worth approximately $193,000. Millennium Management LLC bought a new position in shares of Concrete Pumping during the 4th quarter worth approximately $688,000. Finally, Owl Creek Asset Management L.P. bought a new position in shares of Concrete Pumping during the 4th quarter worth approximately $15,689,000. Hedge funds and other institutional investors own 4.43% of the company’s stock.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc provides concrete pumping and concrete waste management services. The company offers concrete pumping services under the Brundage-Bone brand and concrete waste management services under the Eco-Pan brand in the United States; and concrete pumping services under the Camfaud brand in the United Kingdom.

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