Wall Street brokerages expect Summit Materials, Inc. (NYSE:SUM – Get Rating) to report $0.57 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Summit Materials’ earnings, with estimates ranging from $0.47 to $0.68. Summit Materials reported earnings per share of $0.49 during the same quarter last year, which would indicate a positive year over year growth rate of 16.3%. The company is scheduled to report its next quarterly earnings report 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 year, analysts anticipate 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 calculations are a mean average based on a survey of analysts that follow Summit Materials.
Summit Materials (NYSE:SUM – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The construction company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.03). The firm had revenue of $392.50 million during the quarter, compared to the consensus estimate of $395.55 million. Summit Materials had a return on equity of 7.02% and a net margin of 5.84%. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.33) EPS.
Shares of Summit Materials stock traded up $0.46 during trading hours on Friday, hitting $27.82. The company’s stock had a trading volume of 39,607 shares, compared to its average volume of 862,018. The business has a 50 day moving average price of $28.73 and a two-hundred day moving average price of $33.74. Summit Materials has a 12-month low of $24.08 and a 12-month high of $41.46. The company has a market cap of $3.29 billion, a PE ratio of 23.53 and a beta of 1.30. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.94 and a current ratio of 2.55.
Several hedge funds and other institutional investors have recently modified their holdings of SUM. UMB Bank N A MO purchased a new stake in shares of Summit Materials in the fourth quarter worth approximately $35,000. Lazard Asset Management LLC purchased a new stake in shares of Summit Materials in the fourth quarter worth approximately $47,000. Eaton Vance Management purchased a new stake in shares of Summit Materials in the third quarter worth approximately $48,000. Wolverine Asset Management LLC purchased a new position in Summit Materials during the 1st quarter worth $62,000. Finally, Harbor Investment Advisory LLC increased its holdings in Summit Materials by 90.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,923 shares of the construction company’s stock worth $77,000 after purchasing an additional 915 shares during the period.
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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