Summit Materials (SUM) Set to Announce Earnings on Tuesday

Summit Materials (NYSE:SUM) will be issuing its quarterly earnings data before the market opens on Tuesday, November 6th. Analysts expect the company to announce earnings of $0.75 per share for the quarter.

Summit Materials (NYSE:SUM) last posted its earnings results on Wednesday, August 1st. The construction company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.24). Summit Materials had a return on equity of 8.54% and a net margin of 5.16%. The firm had revenue of $549.24 million during the quarter, compared to analysts’ expectations of $546.76 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Summit Materials’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts expect Summit Materials to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

NYSE SUM traded up $0.27 during trading hours on Tuesday, hitting $12.05. 2,470,455 shares of the company were exchanged, compared to its average volume of 3,144,182. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.07 and a quick ratio of 1.26. Summit Materials has a 52 week low of $11.67 and a 52 week high of $34.06. The stock has a market capitalization of $1.38 billion, a P/E ratio of 12.96, a PEG ratio of 1.41 and a beta of 1.52.

Several equities research analysts have weighed in on the company. Stifel Nicolaus reduced their price objective on Summit Materials from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, August 3rd. ValuEngine cut Summit Materials from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Citigroup reduced their price objective on Summit Materials from $38.00 to $37.00 and set a “$25.50” rating on the stock in a research note on Monday, July 23rd. Stephens set a $24.00 price objective on Summit Materials and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Finally, Barclays reduced their price objective on Summit Materials from $30.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $29.96.

In other Summit Materials news, COO Karl Watson bought 35,500 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were purchased at an average price of $21.15 per share, with a total value of $750,825.00. Following the completion of the purchase, the chief operating officer now owns 23,700 shares in the company, valued at approximately $501,255. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

About Summit Materials

Summit Materials, Inc, together with its subsidiaries, produces and sells construction materials and related downstream products. Its products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products. The company also provides paving and related services to private and public infrastructure sectors.

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Earnings History for Summit Materials (NYSE:SUM)

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