Summit Materials (SUM) to Release Quarterly Earnings on Wednesday

Summit Materials (NYSE:SUM) will release its 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. Parties that wish to register for the company’s conference call can do so using this link.

Summit Materials (NYSE:SUM) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $613.13 million for the quarter, compared to the consensus estimate of $560.90 million. Summit Materials had a net margin of 10.91% and a return on equity of 8.73%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. 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 0.3 %

Shares of Summit Materials stock opened at $40.13 on Tuesday. Summit Materials has a twelve month low of $27.20 and a twelve month high of $44.89. The company has a quick ratio of 4.62, a current ratio of 5.36 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average is $41.84 and its 200 day moving average is $37.98. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 16.86 and a beta of 1.32.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SUM. Royal Bank of Canada increased their price target on Summit Materials from $39.00 to $44.00 and gave the company a “sector perform” rating in a report on Thursday, March 14th. Citigroup increased their target price on Summit Materials from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, April 5th. Truist Financial boosted their price target on Summit Materials from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group increased their price objective on shares of Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Finally, Barclays raised their price objective on shares of Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.