Analysts predict that Summit Materials Inc (NYSE:SUM) will post $0.70 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for Summit Materials’ earnings. The lowest EPS estimate is $0.58 and the highest is $0.85. Summit Materials reported earnings per share of $0.54 during the same quarter last year, which suggests a positive year-over-year growth rate of 29.6%. The company is expected to issue its next quarterly earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Summit Materials will report full-year earnings of $0.70 per share for the current year, with EPS estimates ranging from $0.53 to $0.94. For the next financial year, analysts forecast that the business will post earnings of $1.00 per share, with EPS estimates ranging from $0.77 to $1.37. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Summit Materials.

Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.07). The business had revenue of $600.90 million for the quarter, compared to analysts’ expectations of $583.06 million. Summit Materials had a net margin of 0.94% and a return on equity of 1.68%. The company’s revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share.

SUM has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Summit Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Barclays set a $18.00 price objective on shares of Summit Materials and gave the company a “hold” rating in a research note on Friday, June 14th. Finally, ValuEngine upgraded shares of Summit Materials from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $20.00.

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada grew its holdings in shares of Summit Materials by 3.8% in the second quarter. Royal Bank of Canada now owns 52,123 shares of the construction company’s stock worth $1,003,000 after purchasing an additional 1,928 shares during the last quarter. Red Cedar Management LP lifted its stake in Summit Materials by 11.5% in the second quarter. Red Cedar Management LP now owns 557,538 shares of the construction company’s stock worth $10,732,000 after acquiring an additional 57,338 shares during the period. Nuveen Asset Management LLC purchased a new stake in Summit Materials in the second quarter worth about $27,782,000. Victory Capital Management Inc. lifted its stake in Summit Materials by 3.8% in the second quarter. Victory Capital Management Inc. now owns 1,103,274 shares of the construction company’s stock worth $21,238,000 after acquiring an additional 40,030 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its stake in Summit Materials by 22.3% in the second quarter. UBS Asset Management Americas Inc. now owns 115,338 shares of the construction company’s stock worth $2,220,000 after acquiring an additional 21,012 shares during the period.

NYSE:SUM traded up $0.45 on Friday, reaching $20.17. 35,033 shares of the stock traded hands, compared to its average volume of 1,086,375. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 134.40 and a beta of 2.24. The company has a current ratio of 2.06, a quick ratio of 1.38 and a debt-to-equity ratio of 1.42. Summit Materials has a 12 month low of $11.25 and a 12 month high of $21.85. The company’s fifty day simple moving average is $18.94 and its 200 day simple moving average is $17.04.

Summit Materials Company Profile

Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, residential and nonresidential, and other markets. It operates in 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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Earnings History and Estimates for Summit Materials (NYSE:SUM)

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