Equities Analysts Issue Forecasts for Summit Materials Inc’s Q4 2019 Earnings (SUM)

Summit Materials Inc (NYSE:SUM) – Equities research analysts at SunTrust Banks boosted their Q4 2019 earnings per share (EPS) estimates for Summit Materials in a research note issued to investors on Monday, May 13th. SunTrust Banks analyst R. Seth now anticipates that the construction company will earn $0.17 per share for the quarter, up from their previous forecast of $0.13. SunTrust Banks also issued estimates for Summit Materials’ Q4 2020 earnings at $0.20 EPS.

Summit Materials (NYSE:SUM) last posted its quarterly earnings results on Wednesday, May 8th. The construction company reported ($0.49) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.11. Summit Materials had a net margin of 0.97% and a return on equity of 1.78%. The company had revenue of $305.95 million during the quarter, compared to the consensus estimate of $312.42 million. During the same period last year, the firm earned ($0.55) EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Summit Materials in a research note on Thursday, March 21st. They set a “neutral” rating and a $19.00 price objective for the company. Zacks Investment Research cut shares of Summit Materials from a “hold” rating to a “strong sell” rating in a research note on Friday, February 8th. Berenberg Bank initiated coverage on shares of Summit Materials in a research note on Wednesday, April 3rd. They set a “hold” rating and a $18.00 price objective for the company. Finally, Scotiabank reissued a “hold” rating on shares of Summit Materials in a research note on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Summit Materials currently has a consensus rating of “Hold” and a consensus price target of $21.82.

Shares of SUM opened at $16.48 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.97 and a quick ratio of 1.14. Summit Materials has a 1-year low of $11.25 and a 1-year high of $30.02. The company has a market cap of $3.14 billion, a PE ratio of 109.87, a price-to-earnings-growth ratio of 1.85 and a beta of 1.92.

Hedge funds have recently added to or reduced their stakes in the business. Lockheed Martin Investment Management Co. purchased a new stake in Summit Materials in the 4th quarter worth approximately $1,061,000. Penn Capital Management Co. Inc. grew its stake in shares of Summit Materials by 26.6% during the 1st quarter. Penn Capital Management Co. Inc. now owns 909,376 shares of the construction company’s stock valued at $15,393,000 after buying an additional 190,966 shares during the period. Sciencast Management LP purchased a new stake in shares of Summit Materials during the 1st quarter valued at $294,000. Renaissance Technologies LLC purchased a new stake in shares of Summit Materials during the 3rd quarter valued at $744,000. Finally, Jane Street Group LLC purchased a new stake in shares of Summit Materials during the 4th quarter valued at $812,000.

In other Summit Materials news, CEO Thomas W. Hill acquired 31,250 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was acquired at an average cost of $16.25 per share, with a total value of $507,812.50. Following the purchase, the chief executive officer now directly owns 135,652 shares in the company, valued at approximately $2,204,345. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.76% of the company’s stock.

Summit Materials Company Profile

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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