Summit Materials (NYSE:SUM) Posts Earnings Results, Beats Estimates By $0.11 EPS

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

Summit Materials Stock Performance

Shares of NYSE SUM traded up $0.25 during trading on Thursday, hitting $39.48. The company had a trading volume of 1,698,876 shares, compared to its average volume of 970,560. The stock has a 50 day simple moving average of $41.77 and a 200 day simple moving average of $38.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 4.62 and a current ratio of 5.36. Summit Materials has a 12 month low of $27.29 and a 12 month high of $44.89. The firm has a market capitalization of $6.88 billion, a P/E ratio of 16.49 and a beta of 1.34.

Wall Street Analysts Forecast Growth

SUM has been the topic of a number of recent research reports. Stephens reissued an “overweight” rating and issued a $45.00 target price on shares of Summit Materials in a research note on Tuesday, February 13th. The Goldman Sachs Group increased their target price on Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Royal Bank of Canada increased their target price on Summit Materials from $39.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 14th. Barclays increased their target price on Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Finally, Truist Financial increased their target price on Summit Materials from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average 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.