-$0.47 EPS Expected for Summit Materials Inc (NYSE:SUM) This Quarter

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Equities research analysts predict that Summit Materials Inc (NYSE:SUM) will report earnings of ($0.47) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Summit Materials’ earnings. The lowest EPS estimate is ($0.70) and the highest is ($0.35). Summit Materials reported earnings of ($0.49) per share in the same quarter last year, which would indicate a positive year over year growth rate of 4.1%. The firm is expected to issue its next quarterly earnings results on Wednesday, May 13th.

On average, analysts expect that Summit Materials will report full-year earnings of $0.84 per share for the current year, with EPS estimates ranging from $0.55 to $1.09. For the next year, analysts anticipate that the business will post earnings of $1.08 per share, with EPS estimates ranging from $0.71 to $1.37. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Summit Materials.

Summit Materials (NYSE:SUM) last released its quarterly earnings results on Wednesday, February 5th. The construction company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.50. Summit Materials had a return on equity of 8.01% and a net margin of 2.69%. The firm had revenue of $556.50 million during the quarter, compared to analysts’ expectations of $488.40 million. During the same period last year, the firm posted ($0.16) EPS. The business’s revenue was up 13.3% on a year-over-year basis.

A number of research analysts have commented on the company. Cfra upgraded Summit Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Deutsche Bank assumed coverage on Summit Materials in a research report on Wednesday, November 27th. They issued a “buy” rating and a $32.00 price objective on the stock. DA Davidson increased their price objective on Summit Materials to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Citigroup assumed coverage on Summit Materials in a research report on Tuesday, December 17th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Goldman Sachs Group lowered Summit Materials from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $24.00 to $22.00 in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $26.17.

Large investors have recently bought and sold shares of the company. CWM LLC bought a new position in shares of Summit Materials in the 4th quarter worth $44,000. Tower Research Capital LLC TRC bought a new position in shares of Summit Materials in the 3rd quarter worth $64,000. First Mercantile Trust Co. bought a new position in shares of Summit Materials in the 4th quarter worth $83,000. Strs Ohio bought a new position in shares of Summit Materials in the 3rd quarter worth $135,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Summit Materials by 11.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,207 shares of the construction company’s stock worth $172,000 after purchasing an additional 737 shares during the last quarter.

SUM stock traded down $0.77 during midday trading on Friday, reaching $22.77. 588,221 shares of the company’s stock traded hands, compared to its average volume of 791,769. The company has a 50-day simple moving average of $23.44 and a two-hundred day simple moving average of $22.55. Summit Materials has a 1-year low of $13.42 and a 1-year high of $25.22. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 46.47 and a beta of 2.15. The company has a quick ratio of 1.98, a current ratio of 2.66 and a debt-to-equity ratio of 1.30.

Summit Materials Company Profile

Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, residential and nonresidential, and other markets. It operates in 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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