Summit Materials (NYSE:SUM) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Summit Materials (NYSE:SUM - Get Free Report) released its earnings results on Wednesday. The construction company reported ($0.12) 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 analysts' expectations of $803.98 million. Summit Materials had a net margin of 10.91% and a return on equity of 8.73%. The company's quarterly revenue was up 89.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.26) earnings per share.

Summit Materials Trading Down 0.4 %

NYSE:SUM traded down $0.14 on Thursday, hitting $39.09. The stock had a trading volume of 2,884,263 shares, compared to its average volume of 985,121. The company has a quick ratio of 4.62, a current ratio of 5.36 and a debt-to-equity ratio of 0.99. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 16.42 and a beta of 1.34. The company has a fifty day moving average price of $41.72 and a two-hundred day moving average price of $38.04. Summit Materials has a 1-year low of $27.29 and a 1-year high of $44.89.

Analyst Ratings Changes

A number of research firms have recently commented on SUM. Stephens reissued an "overweight" rating and set a $45.00 target price on shares of Summit Materials in a research note on Tuesday, February 13th. Barclays boosted their target price on shares of Summit Materials from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 14th. Royal Bank of Canada boosted their price target on shares of Summit Materials from $39.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 14th. Truist Financial boosted their price target on shares of Summit Materials from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. began coverage on shares of Summit Materials in a research report on Friday, February 23rd. They set an "overweight" rating and a $47.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.