Wall Street analysts expect Summit Materials Inc (NYSE:SUM) to post $455.08 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Summit Materials’ earnings. The highest sales estimate is $475.90 million and the lowest is $441.00 million. Summit Materials posted sales of $422.97 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.6%. The business is expected to report its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Summit Materials will report full year sales of $455.08 million for the current financial year, with estimates ranging from $1.75 billion to $1.92 billion. For the next year, analysts anticipate that the company will post sales of $1.95 billion per share, with estimates ranging from $1.89 billion to $2.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for Summit Materials.
Summit Materials (NYSE:SUM) last announced its earnings results on Monday, October 30th. The construction company reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.10). Summit Materials had a return on equity of 9.83% and a net margin of 4.09%. The firm had revenue of $634.18 million for the quarter, compared to the consensus estimate of $558.93 million. During the same period in the previous year, the firm earned $0.73 EPS. Summit Materials’s revenue for the quarter was up 19.8% on a year-over-year basis.
In other Summit Materials news, insider Douglas Charles Rauh sold 26,324 shares of Summit Materials stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $31.36, for a total transaction of $825,520.64. Following the transaction, the insider now directly owns 18,724 shares in the company, valued at approximately $587,184.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas W. Hill sold 12,500 shares of Summit Materials stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $31.24, for a total transaction of $390,500.00. Following the transaction, the insider now owns 176,810 shares in the company, valued at $5,523,544.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,442 shares of company stock worth $6,786,892. 1.97% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its position in Summit Materials by 13.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 598,722 shares of the construction company’s stock worth $18,824,000 after purchasing an additional 71,227 shares in the last quarter. Bank of Montreal Can grew its position in Summit Materials by 310.5% during the 4th quarter. Bank of Montreal Can now owns 3,325 shares of the construction company’s stock worth $104,000 after purchasing an additional 2,515 shares in the last quarter. Covenant Asset Management LLC grew its position in Summit Materials by 4.4% during the 4th quarter. Covenant Asset Management LLC now owns 43,912 shares of the construction company’s stock worth $1,381,000 after purchasing an additional 1,860 shares in the last quarter. New England Research & Management Inc. purchased a new position in Summit Materials during the 4th quarter worth approximately $482,000. Finally, California Public Employees Retirement System grew its position in Summit Materials by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 212,000 shares of the construction company’s stock worth $6,790,000 after purchasing an additional 3,100 shares in the last quarter.
Shares of Summit Materials (SUM) traded down $0.01 during trading hours on Friday, reaching $31.10. The company had a trading volume of 604,149 shares, compared to its average volume of 810,145. Summit Materials has a 1 year low of $21.88 and a 1 year high of $32.59. The company has a market capitalization of $3,420.69, a PE ratio of 46.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.97. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.01 and a current ratio of 2.59.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.