William Blair Comments on Concrete Pumping Holdings, Inc.’s FY2024 Earnings (NASDAQ:BBCP)

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) – Stock analysts at William Blair dropped their FY2024 EPS estimates for shares of Concrete Pumping in a research note issued on Thursday, September 5th. William Blair analyst T. Mulrooney now forecasts that the company will post earnings per share of $0.31 for the year, down from their prior estimate of $0.41. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Concrete Pumping’s current full-year earnings is $0.27 per share. William Blair also issued estimates for Concrete Pumping’s Q4 2024 earnings at $0.14 EPS, Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at $0.06 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.19 EPS and FY2026 earnings at $0.50 EPS.

Concrete Pumping (NASDAQ:BBCP) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Concrete Pumping had a return on equity of 6.17% and a net margin of 3.72%. The firm had revenue of $109.62 million during the quarter, compared to analyst estimates of $126.10 million. During the same period in the prior year, the firm earned $0.17 earnings per share.

A number of other research firms have also weighed in on BBCP. DA Davidson lowered their price target on shares of Concrete Pumping from $9.00 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Robert W. Baird lowered their target price on Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, September 5th. UBS Group lowered Concrete Pumping from a “buy” rating to a “neutral” rating and dropped their price target for the company from $10.50 to $6.25 in a research report on Friday, September 6th. Finally, Stifel Nicolaus reduced their price objective on Concrete Pumping from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.55.

Concrete Pumping Price Performance

Concrete Pumping stock opened at $5.47 on Monday. The company has a fifty day simple moving average of $6.23 and a 200-day simple moving average of $6.84. The firm has a market capitalization of $296.03 million, a price-to-earnings ratio of 17.65 and a beta of 1.12. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.19. Concrete Pumping has a 52-week low of $5.05 and a 52-week high of $9.15.

Hedge Funds Weigh In On Concrete Pumping

A number of hedge funds have recently modified their holdings of the business. Epoch Investment Partners Inc. acquired a new position in Concrete Pumping in the first quarter valued at about $3,439,000. Dimensional Fund Advisors LP lifted its holdings in shares of Concrete Pumping by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,550,933 shares of the company’s stock worth $9,322,000 after acquiring an additional 91,469 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of Concrete Pumping by 100.0% during the 2nd quarter. Park Avenue Securities LLC now owns 118,213 shares of the company’s stock worth $710,000 after purchasing an additional 59,107 shares during the period. Swiss National Bank acquired a new stake in Concrete Pumping in the 4th quarter valued at approximately $398,000. Finally, Aristides Capital LLC raised its position in Concrete Pumping by 63.5% in the first quarter. Aristides Capital LLC now owns 88,052 shares of the company’s stock valued at $696,000 after purchasing an additional 34,207 shares during the period. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

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.