Summit Materials (SUM) Set to Announce Earnings on Wednesday

Summit Materials (NYSE:SUMGet Rating) will issue its quarterly earnings data after the market closes on Wednesday, May 4th. Analysts expect the company to announce earnings of ($0.38) per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Summit Materials (NYSE:SUMGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The construction company reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. The company had revenue of $596.67 million for the quarter, compared to the consensus estimate of $553.31 million. Summit Materials had a net margin of 6.32% and a return on equity of 7.73%. Summit Materials’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, analysts expect Summit Materials to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Summit Materials stock opened at $27.76 on Wednesday. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 21.69 and a beta of 1.32. The firm’s fifty day moving average is $30.56 and its 200 day moving average is $34.95. The company has a quick ratio of 2.23, a current ratio of 2.81 and a debt-to-equity ratio of 0.87. Summit Materials has a 52-week low of $26.42 and a 52-week high of $41.46.

A number of hedge funds have recently bought and sold shares of SUM. D. E. Shaw & Co. Inc. increased its stake in Summit Materials by 46.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 11,895 shares of the construction company’s stock worth $477,000 after buying an additional 3,786 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Summit Materials in the 4th quarter worth about $546,000. Guggenheim Capital LLC increased its stake in Summit Materials by 7.0% in the 4th quarter. Guggenheim Capital LLC now owns 13,704 shares of the construction company’s stock worth $550,000 after buying an additional 900 shares during the period. UBS Group AG increased its stake in Summit Materials by 15.0% in the 3rd quarter. UBS Group AG now owns 17,444 shares of the construction company’s stock worth $558,000 after buying an additional 2,275 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Summit Materials in the 4th quarter worth about $819,000.

SUM has been the topic of a number of recent research reports. Morgan Stanley decreased their price target on shares of Summit Materials from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, April 18th. StockNews.com downgraded shares of Summit Materials from a “hold” rating to a “sell” rating in a research note on Friday, April 15th. Zacks Investment Research raised shares of Summit Materials from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Wednesday, February 2nd. Finally, Barclays increased their target price on shares of Summit Materials from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, January 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Summit Materials has an average rating of “Hold” and an average target price of $39.36.

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.

See Also

Earnings History for Summit Materials (NYSE:SUM)

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