Summit Materials, Inc. (NYSE:SUM) Expected to Post Earnings of $0.57 Per Share

Wall Street analysts expect that Summit Materials, Inc. (NYSE:SUMGet Rating) will post $0.57 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Summit Materials’ earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.68. Summit Materials posted earnings of $0.49 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.3%. The firm is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Summit Materials will report full-year earnings of $1.44 per share for the current financial year, with EPS estimates ranging from $1.21 to $1.71. For the next fiscal year, analysts forecast that the business will report earnings of $1.89 per share, with EPS estimates ranging from $1.50 to $2.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Summit Materials.

Summit Materials (NYSE:SUMGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The construction company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). Summit Materials had a net margin of 5.84% and a return on equity of 7.02%. The company had revenue of $392.50 million for the quarter, compared to analyst estimates of $395.55 million. During the same period in the prior year, the company earned ($0.33) EPS. The company’s revenue was down 1.5% compared to the same quarter last year.

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Summit Materials from a “hold” rating to a “sell” rating in a research report on Friday, May 13th. Morgan Stanley decreased their price target on Summit Materials from $42.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, April 18th. Finally, Zacks Investment Research cut Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.78.

SUM traded up $0.46 on Friday, reaching $27.82. 39,607 shares of the company’s stock were exchanged, compared to its average volume of 862,018. The company’s 50 day moving average is $28.73 and its 200-day moving average is $33.74. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 23.53 and a beta of 1.30. Summit Materials has a twelve month low of $24.08 and a twelve month high of $41.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.94 and a current ratio of 2.55.

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its position in Summit Materials by 98.8% in the third quarter. BNP Paribas Arbitrage SA now owns 33,711 shares of the construction company’s stock worth $1,078,000 after buying an additional 16,756 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Summit Materials by 5.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 9,388 shares of the construction company’s stock worth $377,000 after buying an additional 452 shares during the period. American Century Companies Inc. increased its position in Summit Materials by 27.1% in the fourth quarter. American Century Companies Inc. now owns 1,301,426 shares of the construction company’s stock worth $52,239,000 after buying an additional 277,818 shares during the period. Aviva PLC increased its position in Summit Materials by 8.0% in the third quarter. Aviva PLC now owns 108,531 shares of the construction company’s stock worth $3,470,000 after buying an additional 8,067 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Summit Materials by 7.2% during the fourth quarter. Raymond James & Associates now owns 81,543 shares of the construction company’s stock valued at $3,273,000 after purchasing an additional 5,450 shares during the period.

Summit Materials Company Profile (Get Rating)

Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, and residential and nonresidential end markets. It operates through three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.

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Earnings History and Estimates for Summit Materials (NYSE:SUM)

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