Brokerages expect that Summit Materials Inc (NYSE:SUM) will announce $649.17 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Summit Materials’ earnings. The highest sales estimate is $660.70 million and the lowest is $629.12 million. Summit Materials posted sales of $634.18 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The firm is scheduled to report its next earnings report on Monday, October 29th.

According to Zacks, analysts expect that Summit Materials will report full year sales of $1.99 billion for the current financial year, with estimates ranging from $1.96 billion to $2.03 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.14 billion per share, with estimates ranging from $2.09 billion to $2.21 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Summit Materials.

Summit Materials (NYSE:SUM) last released its earnings results on Wednesday, August 1st. The construction company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.24). Summit Materials had a return on equity of 8.54% and a net margin of 5.16%. The company had revenue of $549.24 million for the quarter, compared to the consensus estimate of $546.76 million. During the same quarter in the previous year, the company posted $0.47 EPS. The business’s revenue was up 14.8% on a year-over-year basis.

Several analysts recently issued reports on the company. TheStreet lowered Summit Materials from a “b” rating to a “c+” rating in a report on Thursday, June 21st. Stifel Nicolaus dropped their target price on Summit Materials from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, August 3rd. ValuEngine lowered Summit Materials from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Royal Bank of Canada dropped their target price on Summit Materials to $27.00 and set an “outperform” rating on the stock in a report on Thursday, August 2nd. Finally, Barclays dropped their target price on Summit Materials from $30.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Summit Materials currently has an average rating of “Buy” and an average price target of $30.41.

In other Summit Materials news, COO Karl Watson acquired 35,500 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were purchased at an average price of $21.15 per share, for a total transaction of $750,825.00. Following the completion of the purchase, the chief operating officer now directly owns 23,700 shares of the company’s stock, valued at $501,255. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 3rd. The shares were sold at an average price of $26.27, for a total value of $328,375.00. Following the completion of the sale, the chief executive officer now owns 123,102 shares in the company, valued at approximately $3,233,889.54. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale acquired a new position in shares of Summit Materials in the first quarter valued at approximately $123,000. Bank of Montreal Can grew its position in shares of Summit Materials by 55.1% in the second quarter. Bank of Montreal Can now owns 5,698 shares of the construction company’s stock valued at $149,000 after purchasing an additional 2,025 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Summit Materials by 626.2% in the second quarter. Cubist Systematic Strategies LLC now owns 8,605 shares of the construction company’s stock valued at $226,000 after purchasing an additional 7,420 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Summit Materials in the first quarter valued at approximately $244,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Summit Materials in the first quarter valued at approximately $254,000.

SUM traded down $0.18 on Tuesday, hitting $19.05. 1,727,426 shares of the company were exchanged, compared to its average volume of 2,527,754. Summit Materials has a 12 month low of $18.47 and a 12 month high of $34.06. The firm has a market capitalization of $2.13 billion, a PE ratio of 20.48, a PEG ratio of 1.82 and a beta of 1.50. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.26 and a current ratio of 2.07.

About Summit Materials

Summit Materials, Inc, together with its subsidiaries, produces and sells construction materials and related downstream products. Its products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products. The company also provides paving and related services to private and public infrastructure sectors.

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

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