Summit Materials (SUM) Set to Announce Earnings on Wednesday

Summit Materials (NYSE:SUM) is scheduled to issue its quarterly 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. Individual interested in registering for the company’s earnings conference call can do so using this link.

Summit Materials (NYSE:SUM) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The company 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 company’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. 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 2.0 %

NYSE SUM opened at $39.57 on Wednesday. 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 is $41.87 and its two-hundred day moving average is $37.80. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 16.62 and a beta of 1.32. Summit Materials has a 1-year low of $26.18 and a 1-year high of $44.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on Summit Materials from $39.00 to $44.00 and gave the company a “sector perform” rating in a report on Thursday, March 14th. Stephens reissued an “overweight” rating and issued a $45.00 target price on shares of Summit Materials in a report on Tuesday, February 13th. Citigroup boosted their target price on Summit Materials from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Barclays boosted their target price on Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Finally, JPMorgan Chase & Co. initiated coverage on Summit Materials in a report on Friday, February 23rd. They issued an “overweight” rating and a $47.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Summit Materials currently has a consensus rating of “Moderate Buy” and a consensus target price 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.