Analysts expect Summit Materials, Inc. (NYSE:SUM) to report earnings of $0.27 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Summit Materials’ earnings, with estimates ranging from $0.25 to $0.29. Summit Materials reported earnings of $0.21 per share in the same quarter last year, which indicates a positive year over year growth rate of 28.6%. The firm is scheduled to report its next earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that Summit Materials will report full year earnings of $1.01 per share for the current year, with EPS estimates ranging from $0.96 to $1.08. For the next financial year, analysts anticipate that the company will post earnings of $1.57 per share, with EPS estimates ranging from $1.40 to $1.77. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Summit Materials.

Summit Materials (NYSE:SUM) last posted its quarterly earnings results on Monday, October 30th. The construction company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.10). Summit Materials had a net margin of 4.09% and a return on equity of 9.83%. The company had revenue of $634.18 million during the quarter, compared to the consensus estimate of $558.93 million. During the same period last year, the firm posted $0.73 earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis.

Several equities research analysts have weighed in on the stock. Barclays assumed coverage on shares of Summit Materials in a research note on Tuesday. They issued an “equal weight” rating and a $32.00 price target for the company. SunTrust Banks set a $38.00 price target on shares of Summit Materials and gave the company a “buy” rating in a research note on Tuesday, October 24th. Canaccord Genuity reaffirmed a “buy” rating and issued a $12.50 price target on shares of Summit Materials in a research note on Wednesday, November 8th. Bank of America lifted their price target on shares of Summit Materials from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Summit Materials in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $31.50.

Summit Materials (NYSE:SUM) traded down $0.09 on Friday, reaching $30.13. 1,662,931 shares of the company’s stock traded hands, compared to its average volume of 1,052,185. Summit Materials has a 12-month low of $22.19 and a 12-month high of $32.69. The company has a current ratio of 2.59, a quick ratio of 2.01 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $3,323.89, a P/E ratio of 33.31, a P/E/G ratio of 2.85 and a beta of 1.97.

In other news, EVP Damian John Murphy sold 115,118 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $31.75, for a total transaction of $3,654,996.50. Following the completion of the sale, the executive vice president now directly owns 66,440 shares of the company’s stock, valued at $2,109,470. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas W. Hill sold 12,500 shares of the business’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $31.56, for a total transaction of $394,500.00. Following the sale, the insider now directly owns 164,310 shares of the company’s stock, valued at $5,185,623.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,442 shares of company stock valued at $6,814,142. 1.97% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position in shares of Summit Materials by 0.8% during the second quarter. Teacher Retirement System of Texas now owns 8,539 shares of the construction company’s stock worth $247,000 after acquiring an additional 64 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Summit Materials by 4.4% during the second quarter. Venturi Wealth Management LLC now owns 8,541 shares of the construction company’s stock worth $247,000 after acquiring an additional 360 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Summit Materials by 4.9% during the second quarter. Ameritas Investment Partners Inc. now owns 9,400 shares of the construction company’s stock worth $271,000 after acquiring an additional 443 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 acquiring an additional 510 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of Summit Materials by 5.5% during the second quarter. Amalgamated Bank now owns 12,940 shares of the construction company’s stock worth $374,000 after acquiring an additional 672 shares in the last quarter.

TRADEMARK VIOLATION NOTICE: “Zacks: Brokerages Anticipate Summit Materials, Inc. (SUM) Will Announce Earnings of $0.27 Per Share” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international copyright and trademark laws. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/12/16/zacks-brokerages-anticipate-summit-materials-inc-sum-will-announce-earnings-of-0-27-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)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Summit Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Materials and related companies with MarketBeat.com's FREE daily email newsletter.