Summit Materials (SUM) Set to Announce Quarterly Earnings on Wednesday

Summit Materials (NYSE:SUM) is scheduled to be announcing its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of ($0.23) per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

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

NYSE SUM opened at $39.57 on Wednesday. Summit Materials has a 1 year low of $26.18 and a 1 year high of $44.89. 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 firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 16.62 and a beta of 1.32. The firm’s 50 day simple moving average is $41.87 and its 200 day simple moving average is $37.80.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Summit Materials in a research report on Friday, February 23rd. They issued an “overweight” rating and a $47.00 target price on the stock. Royal Bank of Canada lifted their price target on shares of Summit Materials from $39.00 to $44.00 and gave the stock a “sector perform” rating in a report on Thursday, March 14th. Barclays lifted their target price on shares of Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Truist Financial lifted their target price on shares of Summit Materials from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, The Goldman Sachs Group lifted their price target on shares of Summit Materials from $43.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Six 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.com, the stock 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.