Summit Materials (NYSE:SUM) Issues Earnings Results

Summit Materials (NYSE:SUM) announced its quarterly earnings data on Wednesday. The construction company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.11, Briefing.com reports. Summit Materials had a return on equity of 8.73% and a net margin of 10.91%. The company had revenue of $773.23 million during the quarter, compared to the consensus estimate of $803.98 million. During the same quarter last year, the company earned ($0.26) EPS. The company’s quarterly revenue was up 89.9% on a year-over-year basis.

Summit Materials Trading Down 0.3 %

NYSE SUM traded down $0.13 on Thursday, reaching $39.10. The company had a trading volume of 2,879,763 shares, compared to its average volume of 985,068. The stock’s 50 day moving average is $41.77 and its 200-day moving average is $38.04. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 16.49 and a beta of 1.34. The company has a quick ratio of 4.62, a current ratio of 5.36 and a debt-to-equity ratio of 0.99. Summit Materials has a 52 week low of $27.29 and a 52 week high of $44.89.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SUM shares. The Goldman Sachs Group lifted their price objective on Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Royal Bank of Canada lifted their price objective on Summit Materials from $39.00 to $44.00 and gave the stock a “sector perform” rating in a report on Thursday, March 14th. Citigroup lifted their price objective on Summit Materials from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Stephens reissued an “overweight” rating and set a $45.00 price objective on shares of Summit Materials in a report on Tuesday, February 13th. Finally, Barclays boosted their price target on Summit Materials from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.09.

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.