Concrete Pumping (BBCP) shares rallied 6.6% in the trading session on Wednesday to close at $7.41. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.9% gain over the past four weeks.
The stock is benefiting from the company’s growth in commercial and infrastructure end markets, market share gains and expansion of Eco-Pan.
This company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of -10%. Revenues are expected to be $103.88 million, up 7.7% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 >>>>
Concrete Pumping is a member of the Zacks Waste Removal Services industry. One other stock in the same industry, Core & Main (CNM), finished the last trading session 0.4% higher at $27.20. CNM has returned 8.3% over the past month.
For Core & Main , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.46. This represents a change of -37.8% from what the company reported a year ago. Core & Main currently has a Zacks Rank of #3 (Hold).
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