Analysts Anticipate Summit Materials Inc (SUM) Will Post Earnings of $0.60 Per Share

Brokerages expect Summit Materials Inc (NYSE:SUM) to post earnings of $0.60 per share for the current quarter, Zacks reports. Five analysts have provided estimates for Summit Materials’ earnings. The highest EPS estimate is $0.66 and the lowest is $0.50. Summit Materials reported earnings per share of $0.47 in the same quarter last year, which indicates a positive year over year growth rate of 27.7%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, August 1st.

On average, analysts expect that Summit Materials will report full year earnings of $1.59 per share for the current financial year, with EPS estimates ranging from $1.53 to $1.64. For the next fiscal year, analysts forecast that the business will post earnings of $1.84 per share, with EPS estimates ranging from $1.36 to $2.17. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Summit Materials.

Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Tuesday, May 8th. The construction company reported ($0.55) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.04. Summit Materials had a net margin of 6.03% and a return on equity of 10.20%. The company had revenue of $289.92 million during the quarter, compared to the consensus estimate of $297.51 million. During the same quarter in the prior year, the firm posted ($0.49) EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis.



A number of analysts have recently weighed in on SUM shares. TheStreet raised shares of Summit Materials from a “c” rating to a “b” rating in a report on Monday, March 19th. ValuEngine raised shares of Summit Materials from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Royal Bank of Canada set a $37.00 price target on shares of Summit Materials and gave the stock a “buy” rating in a report on Thursday, February 15th. SunTrust Banks cut their price target on shares of Summit Materials from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, May 30th. Finally, Deutsche Bank upped their price target on shares of Summit Materials from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Summit Materials currently has a consensus rating of “Buy” and an average target price of $33.15.

In related news, CEO Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $27.41, for a total transaction of $342,625.00. Following the completion of the transaction, the chief executive officer now directly owns 148,102 shares in the company, valued at approximately $4,059,475.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas W. Hill sold 447,959 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $31.02, for a total transaction of $13,895,688.18. Following the transaction, the chief executive officer now owns 146,245 shares of the company’s stock, valued at $4,536,519.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 535,459 shares of company stock valued at $16,470,063. 1.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky increased its position in Summit Materials by 5.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 33,036 shares of the construction company’s stock worth $1,039,000 after purchasing an additional 1,753 shares in the last quarter. State of Tennessee Treasury Department increased its position in Summit Materials by 1.4% in the 4th quarter. State of Tennessee Treasury Department now owns 130,230 shares of the construction company’s stock valued at $4,094,000 after acquiring an additional 1,798 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Summit Materials by 39.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,998 shares of the construction company’s stock valued at $220,000 after acquiring an additional 1,985 shares during the period. First Washington CORP increased its position in Summit Materials by 1.4% in the 4th quarter. First Washington CORP now owns 148,648 shares of the construction company’s stock valued at $4,673,000 after acquiring an additional 2,038 shares during the period. Finally, Royce & Associates LP increased its position in Summit Materials by 1.4% in the 4th quarter. Royce & Associates LP now owns 156,946 shares of the construction company’s stock valued at $4,934,000 after acquiring an additional 2,166 shares during the period.

Shares of Summit Materials traded down $0.16, reaching $27.17, on Monday, MarketBeat Ratings reports. 1,712,260 shares of the stock were exchanged, compared to its average volume of 1,305,795. Summit Materials has a one year low of $26.36 and a one year high of $34.06. The company has a current ratio of 2.17, a quick ratio of 1.37 and a debt-to-equity ratio of 1.46. The company has a market cap of $3.05 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 1.63 and a beta of 1.71.

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 and Estimates for Summit Materials (NYSE:SUM)

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