Brokerages Expect Summit Materials, Inc. (SUM) Will Announce Earnings of $0.85 Per Share

Wall Street analysts expect Summit Materials, Inc. (NYSE:SUM) to announce $0.85 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Summit Materials’ earnings, with estimates ranging from $0.81 to $0.92. Summit Materials reported earnings per share of $0.72 in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.1%. The company is scheduled to announce its next quarterly earnings report before the market opens on Monday, October 30th.

On average, analysts expect that Summit Materials will report full year earnings of $1.19 per share for the current year, with EPS estimates ranging from $1.10 to $1.27. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.70 per share, with EPS estimates ranging from $1.49 to $1.88. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Summit Materials.

Summit Materials (NYSE:SUM) last issued its earnings results on Wednesday, August 2nd. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.09). Summit Materials had a return on equity of 9.90% and a net margin of 2.46%. The company had revenue of $478.37 million during the quarter, compared to analyst estimates of $469.91 million. During the same period in the previous year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis.

Several equities research analysts recently issued reports on the company. BidaskClub cut Summit Materials from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Royal Bank Of Canada boosted their price target on Summit Materials from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut Summit Materials from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. Finally, TheStreet upgraded Summit Materials from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $32.20.

In other Summit Materials news, insider Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $32.11, for a total transaction of $401,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas W. Hill sold 6,300 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $28.74, for a total value of $181,062.00. Following the sale, the chief executive officer now owns 20,610 shares of the company’s stock, valued at $592,331.40. The disclosure for this sale can be found here. Insiders have sold 622,733 shares of company stock valued at $18,406,421 over the last 90 days. Corporate insiders own 1.97% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Summit Materials by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the construction company’s stock worth $145,000 after purchasing an additional 510 shares during the last quarter. SG Americas Securities LLC lifted its stake in Summit Materials by 27.8% during the first quarter. SG Americas Securities LLC now owns 7,300 shares of the construction company’s stock worth $180,000 after purchasing an additional 1,589 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Summit Materials during the first quarter worth $209,000. ARP Americas LLC bought a new stake in Summit Materials during the second quarter worth $211,000. Finally, KCG Holdings Inc. bought a new stake in Summit Materials during the first quarter worth $247,000.

Shares of Summit Materials (NYSE SUM) traded up 0.67% during trading on Friday, hitting $31.77. The stock had a trading volume of 1,281,174 shares. The stock has a market capitalization of $3.42 billion, a P/E ratio of 70.60 and a beta of 2.08. The stock’s 50-day moving average is $31.23 and its 200-day moving average is $31.23. Summit Materials has a 12-month low of $17.84 and a 12-month high of $32.69.

ILLEGAL ACTIVITY NOTICE: This story was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://ledgergazette.com/2017/10/21/brokerages-expect-summit-materials-inc-sum-will-announce-earnings-of-0-85-per-share.html.

About Summit Materials

Summit Materials, Inc is a construction materials company. The Company operates through three segments: West, East and Cement. As of December 31, 2016, the Company had operations in 21 states in the United States and in British Columbia, Canada. The Company’s materials include aggregates, which it supplies across the United States, and in British Columbia, Canada, and cement, which it supplies along the Mississippi River from Minneapolis to New Orleans.

Get a free copy of the Zacks research report on Summit Materi

On average, analysts expect that Summit Materials will report full year earnings of $1.19 per share for the current year, with EPS estimates ranging from $1.10 to $1.27. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.70 per share, with EPS estimates ranging from $1.49 to $1.88. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Summit Materials.

Summit Materials (NYSE:SUM) last issued its earnings results on Wednesday, August 2nd. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.09). Summit Materials had a return on equity of 9.90% and a net margin of 2.46%. The company had revenue of $478.37 million during the quarter, compared to analyst estimates of $469.91 million. During the same period in the previous year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis.

Several equities research analysts recently issued reports on the company. BidaskClub cut Summit Materials from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Royal Bank Of Canada boosted their price target on Summit Materials from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut Summit Materials from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. Finally, TheStreet upgraded Summit Materials from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $32.20.

In other Summit Materials news, insider Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $32.11, for a total transaction of $401,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas W. Hill sold 6,300 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $28.74, for a total value of $181,062.00. Following the sale, the chief executive officer now owns 20,610 shares of the company’s stock, valued at $592,331.40. The disclosure for this sale can be found here. Insiders have sold 622,733 shares of company stock valued at $18,406,421 over the last 90 days. Corporate insiders own 1.97% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Summit Materials by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the construction company’s stock worth $145,000 after purchasing an additional 510 shares during the last quarter. SG Americas Securities LLC lifted its stake in Summit Materials by 27.8% during the first quarter. SG Americas Securities LLC now owns 7,300 shares of the construction company’s stock worth $180,000 after purchasing an additional 1,589 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Summit Materials during the first quarter worth $209,000. ARP Americas LLC bought a new stake in Summit Materials during the second quarter worth $211,000. Finally, KCG Holdings Inc. bought a new stake in Summit Materials during the first quarter worth $247,000.

Shares of Summit Materials (NYSE SUM) traded up 0.67% during trading on Friday, hitting $31.77. The stock had a trading volume of 1,281,174 shares. The stock has a market capitalization of $3.42 billion, a P/E ratio of 70.60 and a beta of 2.08. The stock’s 50-day moving average is $31.23 and its 200-day moving average is $31.23. Summit Materials has a 12-month low of $17.84 and a 12-month high of $32.69.

ILLEGAL ACTIVITY NOTICE: This story was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://ledgergazette.com/2017/10/21/brokerages-expect-summit-materials-inc-sum-will-announce-earnings-of-0-85-per-share.html.

About Summit Materials

Summit Materials, Inc is a construction materials company. The Company operates through three segments: West, East and Cement. As of December 31, 2016, the Company had operations in 21 states in the United States and in British Columbia, Canada. The Company’s materials include aggregates, which it supplies across the United States, and in British Columbia, Canada, and cement, which it supplies along the Mississippi River from Minneapolis to New Orleans.

Get a free copy of the Zacks research report on Summit Materials (SUM)

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Earnings History and Estimates for Summit Materials (NYSE:SUM)

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