Summit Materials (NYSE:SUM) posted its quarterly earnings results on Wednesday, May 8th. The construction company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.11, Morningstar.com reports. The firm had revenue of $305.95 million during the quarter, compared to analyst estimates of $312.42 million. Summit Materials had a return on equity of 1.78% and a net margin of 0.97%. Summit Materials’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.55) EPS.
NYSE:SUM traded down $0.26 during mid-day trading on Friday, reaching $13.98. The company’s stock had a trading volume of 1,767,300 shares, compared to its average volume of 1,698,779. Summit Materials has a 12-month low of $11.25 and a 12-month high of $28.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.97. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 93.20, a price-to-earnings-growth ratio of 1.80 and a beta of 1.92.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Summit Materials from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Scotiabank reaffirmed a “hold” rating on shares of Summit Materials in a research report on Thursday, February 14th. Berenberg Bank assumed coverage on Summit Materials in a research report on Wednesday, April 3rd. They issued a “hold” rating and a $18.00 price target for the company. Finally, JPMorgan Chase & Co. assumed coverage on Summit Materials in a research report on Thursday, March 21st. They issued a “neutral” rating and a $19.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Summit Materials has an average rating of “Hold” and an average price target of $20.50.
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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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