Brokerages Expect Summit Materials Inc (SUM) Will Announce Quarterly Sales of $478.96 Million
Brokerages predict that Summit Materials Inc (NYSE:SUM) will report sales of $478.96 million for the current quarter, Zacks reports. Five analysts have made estimates for Summit Materials’ earnings. The highest sales estimate is $542.05 million and the lowest is $451.60 million. Summit Materials reported sales of $490.02 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.3%. The company is scheduled to announce its next earnings results on Wednesday, February 13th.
On average, analysts expect that Summit Materials will report full-year sales of $1.97 billion for the current fiscal year, with estimates ranging from $1.92 billion to $2.15 billion. For the next financial year, analysts forecast that the firm will report sales of $2.14 billion, with estimates ranging from $2.05 billion to $2.43 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Summit Materials.
Summit Materials (NYSE:SUM) last released its earnings results on Tuesday, November 6th. The construction company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.21). The firm had revenue of $625.00 million during the quarter, compared to analyst estimates of $638.93 million. Summit Materials had a net margin of 4.64% and a return on equity of 6.74%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share.
NYSE SUM traded up $0.57 during trading on Friday, hitting $14.12. The stock had a trading volume of 1,527,583 shares, compared to its average volume of 2,013,415. The company has a market cap of $1.55 billion, a P/E ratio of 15.18, a P/E/G ratio of 3.05 and a beta of 1.80. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.30 and a quick ratio of 1.50. Summit Materials has a twelve month low of $11.67 and a twelve month high of $34.06.
In other Summit Materials news, CFO Brian James Harris bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 8th. The stock was purchased at an average price of $14.12 per share, for a total transaction of $70,600.00. Following the completion of the purchase, the chief financial officer now directly owns 72,584 shares in the company, valued at $1,024,886.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SUM. Janus Henderson Group PLC lifted its stake in Summit Materials by 47.0% during the third quarter. Janus Henderson Group PLC now owns 8,620,282 shares of the construction company’s stock worth $156,717,000 after purchasing an additional 2,758,136 shares during the last quarter. Carillon Tower Advisers Inc. purchased a new stake in Summit Materials during the second quarter worth approximately $50,352,000. Eagle Asset Management Inc. lifted its stake in Summit Materials by 195.5% during the second quarter. Eagle Asset Management Inc. now owns 2,876,811 shares of the construction company’s stock worth $75,516,000 after purchasing an additional 1,903,266 shares during the last quarter. Luminus Management LLC lifted its stake in Summit Materials by 66.8% during the third quarter. Luminus Management LLC now owns 3,536,307 shares of the construction company’s stock worth $64,290,000 after purchasing an additional 1,416,044 shares during the last quarter. Finally, Ashler Capital LLC purchased a new stake in Summit Materials during the second quarter worth approximately $21,188,000.
Summit Materials Company Profile
Summit Materials, Inc, together with its subsidiaries, produces and sells construction materials and related downstream products. Its products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products. The company also provides paving and related services to private and public infrastructure sectors.
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