Summit Materials, Inc. (NYSE:SUM) Set to Announce Quarterly Earnings on Tuesday
Summit Materials, Inc. (NYSE:SUM) is set to announce its earnings results before the market opens on Tuesday, August 1st. Analysts expect the company to announce earnings of $0.58 per share for the quarter.
Summit Materials (NYSE:SUM) last released its earnings results on Wednesday, May 3rd. The construction company reported ($0.50) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by $0.02. The firm had revenue of $259 million during the quarter, compared to analysts’ expectations of $233.63 million. Summit Materials had a return on equity of 10.00% and a net margin of 0.33%. The firm’s revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.42) earnings per share. On average, analysts expect Summit Materials to post $1.36 EPS for the current fiscal year and $1.82 EPS for the next fiscal year.
Shares of Summit Materials, Inc. (NYSE:SUM) opened at 28.63 on Tuesday. Summit Materials, Inc. has a 1-year low of $17.27 and a 1-year high of $29.67. The stock has a market capitalization of $3.05 billion, a PE ratio of 433.79 and a beta of 2.09. The firm has a 50-day moving average of $28.39 and a 200 day moving average of $25.92.
A number of research firms have recently issued reports on SUM. Zacks Investment Research upgraded shares of Summit Materials from a “sell” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Tuesday, May 9th. BidaskClub upgraded shares of Summit Materials from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Cleveland Research reiterated a “buy” rating on shares of Summit Materials in a research note on Friday, March 31st. Royal Bank Of Canada reiterated a “buy” rating and issued a $33.00 price objective on shares of Summit Materials in a research note on Monday, June 19th. Finally, Longbow Research assumed coverage on shares of Summit Materials in a research note on Thursday, June 8th. They issued a “buy” rating and a $34.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.86.
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In other news, insider Mikel Shane Evans sold 37,200 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $28.57, for a total transaction of $1,062,804.00. Following the transaction, the insider now owns 38,993 shares in the company, valued at approximately $1,114,030.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas W. Hill sold 12,500 shares of the stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $26.08, for a total transaction of $326,000.00. Following the transaction, the insider now owns 20,610 shares in the company, valued at approximately $537,508.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 278,554 shares of company stock worth $7,781,167. 1.97% of the stock is currently owned by company insiders.
Summit Materials Company Profile
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.
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