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Concrete Pumping (BBCP) Soars 9.4%: Is Further Upside Left in the Stock?

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Zacks Equity Research
·2 min read
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Concrete Pumping (BBCP) shares soared 9.4% in the last trading session to close at $7.28. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.3% gain over the past four weeks.

The company reported first-quarter fiscal 2021 results on Mar 11. It reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.06. Revenues of $70.42 million surpassed the Zacks Consensus Estimate by 3.53%.

Price and Consensus

Price Consensus Chart for Concrete Pumping
Price Consensus Chart for Concrete Pumping

This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +62.5%. Revenues are expected to be $69.62 million, down 6% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Concrete Pumping, the consensus EPS estimate for the quarter has been revised 21.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on BBCP going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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