Brokerages expect Summit Materials, Inc. (NYSE:SUM) to post earnings per share (EPS) of $0.65 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Summit Materials’ earnings. The lowest EPS estimate is $0.53 and the highest is $0.81. Summit Materials reported earnings per share of $0.55 during the same quarter last year, which indicates a positive year over year growth rate of 18.2%. The firm is scheduled to announce its next earnings results on Tuesday, October 26th.
On average, analysts expect that Summit Materials will report full-year earnings of $1.10 per share for the current fiscal year, with EPS estimates ranging from $0.94 to $1.43. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.47 per share, with EPS estimates ranging from $1.13 to $1.87. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Summit Materials.
Summit Materials (NYSE:SUM) last posted its earnings results on Wednesday, August 4th. The construction company reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.01). The company had revenue of $618.50 million for the quarter, compared to analysts’ expectations of $610.28 million. Summit Materials had a net margin of 6.59% and a return on equity of 6.88%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS.
A number of large investors have recently added to or reduced their stakes in the stock. Congress Asset Management Co. MA lifted its position in Summit Materials by 4.4% in the second quarter. Congress Asset Management Co. MA now owns 610,054 shares of the construction company’s stock valued at $21,260,000 after purchasing an additional 25,877 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Summit Materials by 973.0% in the first quarter. The Manufacturers Life Insurance Company now owns 735,944 shares of the construction company’s stock valued at $20,621,000 after purchasing an additional 667,354 shares during the last quarter. Harvest Investment Services LLC lifted its position in Summit Materials by 32.6% in the first quarter. Harvest Investment Services LLC now owns 55,488 shares of the construction company’s stock valued at $1,554,000 after purchasing an additional 13,629 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Summit Materials by 59.3% in the first quarter. Envestnet Asset Management Inc. now owns 90,789 shares of the construction company’s stock valued at $2,544,000 after purchasing an additional 33,782 shares during the last quarter. Finally, Emerald Advisers LLC lifted its position in Summit Materials by 59.0% in the second quarter. Emerald Advisers LLC now owns 512,414 shares of the construction company’s stock valued at $17,858,000 after purchasing an additional 190,129 shares during the last quarter.
SUM stock traded up $0.56 during mid-day trading on Wednesday, reaching $31.69. 12,008 shares of the company traded hands, compared to its average volume of 1,077,663. The company has a debt-to-equity ratio of 1.12, a current ratio of 3.01 and a quick ratio of 2.43. The company has a market capitalization of $3.74 billion, a P/E ratio of 22.69 and a beta of 1.29. Summit Materials has a 52-week low of $15.01 and a 52-week high of $37.13. The company has a fifty day moving average price of $33.50 and a 200-day moving average price of $32.05.
About Summit Materials
Summit Materials, Inc is a construction materials company. It manufactures construction materials and related downstream products. The company operates its business through the following segments: Cement, West and East. The Cement consists of its Hannibal, Missouri and Davenport, Iowa cement plants and distribution terminals along the Mississippi river from Minnesota to Louisiana.
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