Brokerages predict that Summit Materials Inc (NYSE:SUM) will post $668.43 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Summit Materials’ earnings, with the lowest sales estimate coming in at $656.00 million and the highest estimate coming in at $693.83 million. Summit Materials posted sales of $625.02 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.9%. The firm is expected to report its next earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Summit Materials will report full year sales of $2.04 billion for the current financial year, with estimates ranging from $2.00 billion to $2.16 billion. For the next year, analysts anticipate that the company will report sales of $2.17 billion, with estimates ranging from $2.10 billion to $2.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Summit Materials.

Summit Materials (NYSE:SUM) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.07). The company had revenue of $600.90 million during the quarter, compared to analyst estimates of $583.06 million. Summit Materials had a net margin of 0.94% and a return on equity of 1.68%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS.

Several research analysts have weighed in on SUM shares. ValuEngine upgraded shares of Summit Materials from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Summit Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Barclays set a $18.00 price target on shares of Summit Materials and gave the stock a “hold” rating in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Summit Materials from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Summit Materials presently has a consensus rating of “Buy” and a consensus target price of $20.30.

Several institutional investors and hedge funds have recently made changes to their positions in SUM. Vanguard Group Inc. grew its stake in Summit Materials by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 10,333,439 shares of the construction company’s stock valued at $198,919,000 after buying an additional 39,750 shares during the last quarter. Janus Henderson Group PLC grew its stake in Summit Materials by 8.0% in the 2nd quarter. Janus Henderson Group PLC now owns 9,831,283 shares of the construction company’s stock valued at $189,252,000 after buying an additional 730,386 shares during the last quarter. BlackRock Inc. grew its stake in Summit Materials by 1.3% in the 2nd quarter. BlackRock Inc. now owns 7,663,421 shares of the construction company’s stock valued at $147,520,000 after buying an additional 97,208 shares during the last quarter. Principal Financial Group Inc. grew its stake in Summit Materials by 8.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,879,607 shares of the construction company’s stock valued at $77,439,000 after buying an additional 362,331 shares during the last quarter. Finally, Putnam Investments LLC grew its stake in Summit Materials by 10.6% in the 2nd quarter. Putnam Investments LLC now owns 4,094,231 shares of the construction company’s stock valued at $78,814,000 after buying an additional 391,037 shares during the last quarter.

Summit Materials stock traded down $0.11 during trading hours on Monday, hitting $22.52. The company had a trading volume of 1,258,800 shares, compared to its average volume of 1,616,789. The firm has a market capitalization of $2.54 billion, a P/E ratio of 150.13 and a beta of 2.16. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.06 and a quick ratio of 1.38. The firm’s fifty day moving average is $19.91 and its 200-day moving average is $17.56. Summit Materials has a fifty-two week low of $11.25 and a fifty-two week high of $23.10.

About Summit Materials

Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, residential and nonresidential, and other markets. It operates in three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.

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

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