Summit Materials (SUM) to Release Earnings on Wednesday

Summit Materials (NYSE:SUM) is scheduled to release its earnings data after the market closes on Wednesday, May 1st. Analysts expect Summit Materials to post earnings of ($0.23) per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Summit Materials (NYSE:SUM) last announced its earnings results on Wednesday, February 14th. The construction company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. The firm had revenue of $613.13 million for the quarter, compared to the consensus estimate of $560.90 million. Summit Materials had a return on equity of 8.73% and a net margin of 10.91%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. On average, analysts expect Summit Materials to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Summit Materials Stock Up 1.6 %

Shares of SUM opened at $40.00 on Monday. The company has a market capitalization of $6.97 billion, a PE ratio of 16.81 and a beta of 1.32. The company has a current ratio of 5.36, a quick ratio of 4.62 and a debt-to-equity ratio of 0.99. The stock’s 50-day moving average price is $41.86 and its two-hundred day moving average price is $37.93. Summit Materials has a 12 month low of $26.43 and a 12 month high of $44.89.

Wall Street Analyst Weigh In

SUM has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Summit Materials from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Citigroup boosted their price objective on Summit Materials from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Truist Financial boosted their price objective on Summit Materials from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group boosted their price objective on Summit Materials from $43.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Finally, Stephens reissued an “overweight” rating and issued a $45.00 price objective on shares of Summit Materials in a research note on Tuesday, February 13th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.09.

About Summit Materials

Summit Materials, Inc operates as a vertically integrated construction materials company in the United States and Canada. It operates in three segments: West, East, and Cement. The company offers aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.