Summit Materials (NYSE:SUM) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Summit Materials (NYSE:SUM) announced its quarterly earnings results on Wednesday. The construction company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05, Briefing.com reports. Summit Materials had a net margin of 3.92% and a return on equity of 7.30%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm earned $0.81 EPS. The firm’s revenue for the quarter was up 49.9% compared to the same quarter last year.

Summit Materials Trading Up 0.9 %

NYSE SUM opened at $47.83 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.01 and a current ratio of 2.62. The company’s 50-day simple moving average is $39.67 and its two-hundred day simple moving average is $38.94. Summit Materials has a one year low of $32.32 and a one year high of $48.22. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 58.33 and a beta of 1.14.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group lowered their price target on Summit Materials from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Stephens restated an “overweight” rating and issued a $47.00 target price on shares of Summit Materials in a report on Tuesday, August 6th. Loop Capital lifted their price target on shares of Summit Materials from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada increased their price objective on shares of Summit Materials from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Summit Materials from $47.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.92.

Summit Materials Company Profile

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.