Summit Materials, Inc. (NYSE:SUM) Expected to Announce Earnings of -$0.38 Per Share

Equities analysts predict that Summit Materials, Inc. (NYSE:SUMGet Rating) will report earnings per share (EPS) of ($0.38) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Summit Materials’ earnings. The lowest EPS estimate is ($0.49) and the highest is ($0.29). Summit Materials reported earnings per share of ($0.33) during the same quarter last year, which indicates a negative year over year growth rate of 15.2%. The company is scheduled to announce its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Summit Materials will report full-year earnings of $1.59 per share for the current financial year, with EPS estimates ranging from $1.43 to $1.85. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.96 per share, with EPS estimates ranging from $1.68 to $2.45. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Summit Materials.

Summit Materials (NYSE:SUMGet Rating) last released its earnings results on Wednesday, February 23rd. The construction company reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. Summit Materials had a net margin of 6.32% and a return on equity of 7.73%. The business had revenue of $596.67 million for the quarter, compared to analysts’ expectations of $553.31 million. During the same period last year, the company earned $0.25 earnings per share. The company’s quarterly revenue was down 4.5% on a year-over-year basis.

SUM has been the subject of a number of research reports. Zacks Investment Research raised shares of Summit Materials from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Wednesday, February 2nd. Morgan Stanley decreased their price objective on shares of Summit Materials from $45.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, February 25th. Barclays lifted their price objective on shares of Summit Materials from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, January 13th. Finally, StockNews.com downgraded shares of Summit Materials from a “hold” rating to a “sell” rating in a report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Summit Materials currently has an average rating of “Hold” and an average price target of $39.45.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its stake in shares of Summit Materials by 98.8% during the third quarter. BNP Paribas Arbitrage SA now owns 33,711 shares of the construction company’s stock valued at $1,078,000 after purchasing an additional 16,756 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its position in Summit Materials by 0.3% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 157,530 shares of the construction company’s stock worth $5,036,000 after acquiring an additional 412 shares in the last quarter. Segall Bryant & Hamill LLC raised its position in Summit Materials by 5.9% in the third quarter. Segall Bryant & Hamill LLC now owns 564,661 shares of the construction company’s stock worth $18,050,000 after acquiring an additional 31,322 shares in the last quarter. Raymond James & Associates raised its position in Summit Materials by 3.3% in the third quarter. Raymond James & Associates now owns 76,093 shares of the construction company’s stock worth $2,433,000 after acquiring an additional 2,402 shares in the last quarter. Finally, Aviva PLC raised 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 acquiring an additional 8,067 shares in the last quarter.

SUM opened at $29.00 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.81 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $31.43 and its 200-day moving average is $35.10. The firm has a market capitalization of $3.44 billion, a P/E ratio of 22.66 and a beta of 1.32. Summit Materials has a 52-week low of $26.42 and a 52-week high of $41.46.

About Summit Materials (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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