Zacks: Analysts Expect US Concrete Inc (USCR) Will Post Quarterly Sales of $340.19 Million

Wall Street analysts expect US Concrete Inc (NASDAQ:USCR) to announce $340.19 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for US Concrete’s earnings, with estimates ranging from $332.82 million to $351.00 million. US Concrete reported sales of $327.79 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.8%. The firm is expected to report its next quarterly earnings report on Monday, April 29th.

According to Zacks, analysts expect that US Concrete will report full year sales of $1.61 billion for the current financial year, with estimates ranging from $1.59 billion to $1.63 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.71 billion, with estimates ranging from $1.68 billion to $1.75 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for US Concrete.

US Concrete (NASDAQ:USCR) last released its quarterly earnings results on Tuesday, February 26th. The construction company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.14). US Concrete had a return on equity of 9.79% and a net margin of 1.99%. The business had revenue of $370.10 million for the quarter, compared to the consensus estimate of $378.31 million. During the same period in the prior year, the business posted $0.50 earnings per share. US Concrete’s revenue was up 8.4% compared to the same quarter last year.

USCR has been the topic of a number of recent research reports. BidaskClub raised shares of US Concrete from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Citigroup lowered their price target on shares of US Concrete from $63.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, January 4th. DA Davidson lowered their price target on shares of US Concrete from $82.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, January 2nd. ValuEngine raised shares of US Concrete from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Finally, SunTrust Banks lowered shares of US Concrete from a “buy” rating to a “hold” rating and set a $37.55 price target on the stock. in a research report on Thursday, January 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $61.14.

NASDAQ:USCR traded up $0.48 during mid-day trading on Thursday, reaching $44.57. 128,660 shares of the company’s stock were exchanged, compared to its average volume of 270,513. US Concrete has a one year low of $27.68 and a one year high of $65.85. The firm has a market cap of $740.75 million, a price-to-earnings ratio of 23.09, a P/E/G ratio of 1.63 and a beta of 1.25. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.08 and a current ratio of 1.28.

In other US Concrete news, VP Jeffrey W. Roberts sold 3,800 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $41.03, for a total transaction of $155,914.00. Following the sale, the vice president now directly owns 16,511 shares in the company, valued at $677,446.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Niel L. Poulsen sold 5,782 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $42.87, for a total transaction of $247,874.34. Following the sale, the executive vice president now owns 9,575 shares in the company, valued at $410,480.25. The disclosure for this sale can be found here. Insiders have sold 15,432 shares of company stock worth $641,166 over the last quarter. Corporate insiders own 4.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Cutler Group LP grew its stake in US Concrete by 136.2% during the fourth quarter. Cutler Group LP now owns 5,285 shares of the construction company’s stock worth $186,000 after buying an additional 19,867 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in US Concrete during the fourth quarter worth about $318,000. Brinker Capital Inc. grew its stake in US Concrete by 3.1% during the fourth quarter. Brinker Capital Inc. now owns 11,435 shares of the construction company’s stock worth $403,000 after buying an additional 347 shares in the last quarter. Rehmann Capital Advisory Group acquired a new stake in US Concrete during the third quarter worth about $136,000. Finally, Principal Financial Group Inc. grew its stake in US Concrete by 88.4% during the fourth quarter. Principal Financial Group Inc. now owns 243,078 shares of the construction company’s stock worth $8,576,000 after buying an additional 114,072 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

About US 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 and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.

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