Market Globalist

What the Analysts Are Forecasting for Concrete Pumping Holdings Inc. [BBCP] Earnings

Concrete Pumping Holdings Inc. [NASDAQ:BBCP] will report earnings after markets close on Tuesday, January 12th.

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BBCP Earnings Forecast For The Current Quarter

Concrete Pumping Holdings Inc. [BBCP] is expected to report strong earnings results for the quarter ending on Oct 2020. Consensus estimates give the company expected revenues of $79.93M and an earnings per share of $0.04 for Oct 2020. Looking further ahead, the company is expected to report revenue of $71.77M at an EPS of -$0.02 for Jan 2021. The estimates represent downside of 1.00% and 112.30% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.

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BBCP Earnings Estimates For The Current Year

For the financial year, Concrete Pumping Holdings Inc. [NASDAQ:BBCP] is expected to bring in revenue of $305.04M. The returns are nearly $22.08 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -1.06, lower than that of FY19 by -$0.23. Estimates put this year’s earnings growth at -27.70%, 112.30% for the next. As for sales, forecasts are for an increase of 7.80% in the current fiscal year and a further 1.00% over the following year.

BBCP Price Performance

On Wall Street, Concrete Pumping Holdings Inc. [NASDAQ:BBCP] finished Friday’s session down 0.00% at $4.40. The stock went up to $4.54 at the same session while its lowest single day price was $4.33. In the last five days, it saw a rise of about 14.88%, Concrete Pumping Holdings Inc. shares gained by almost 14.88% since the beginning of the year. However, the share price has dropped to as low as -27.92% below its one year high. On 01/06/21, the company shares recorded $4.60, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $3.75. The company’s shares have declined by -15.38% in the past year. The 50-day SMA achieved is $3.62 while the 200-day SMA is $3.47. Volume dropped to 0.15 million from 0.37 million in the previous session.

BBCP Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing is perceived around 4.31 level, and in case of violation of this particular level, it will cause more drop to 4.21 level. On the upper level, 4.63 is still the key resistance. The stock may increase to the subsequent resistance at 4.52. The Relative Strength Index (RSI) pinned on the 14-day chart is 72.09, implying a overbought technical stance while the MACD stands at 0.52, meaning price will decrease in the next trading period. Percent R indicator moved to 16.67%, implying bullish price movement. Stochastic %K at 83.33% suggest selling the stock.

Is Concrete Pumping Holdings Inc. [NASDAQ:BBCP] a Good Buy Right Now?

It should be noted that BBCP technical indicators for short, intermediate as well as long term progress have placed an overall average of 72% as Buy. The average signal changed from 40% Buy in the last week and compares with 40% Sell in the past month. Data from Concrete Pumping Holdings Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.19 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.13 million shares while the medium term average advocated for Hold. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.11 million shares.

What is the short interest in Concrete Pumping Holdings Inc.?

Short interest in the Concrete Pumping Holdings Inc. stock has surged, increasing by 0.12 million shares to total 0.43 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.54 million, data from Yahoo Finance shows. The decrease of -26.96% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 1.66% of the overall float for the stock.

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What are analyst thoughts on Concrete Pumping Holdings Inc.?

Looking forward to the Concrete Pumping Holdings Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Concrete Pumping Holdings Inc. stock at $5.00 within the next 12 months, which represents almost 12.0 per cent growth from its previous closing price of $4.40. The highest analysts’ target for Concrete Pumping Holdings Inc. stock projections is $6.75 and the lowest one is $4.25. Still, 6 analysts sharing their consensus rating for BBCP stock in 2021 agree that it is an Overweight.

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