Seaport Res Ptn Analysts Lower Earnings Estimates for SUM

Summit Materials, Inc. (NYSE:SUM) – Analysts at Seaport Res Ptn reduced their Q4 2024 earnings estimates for shares of Summit Materials in a research note issued to investors on Monday, October 28th. Seaport Res Ptn analyst R. Seth now forecasts that the construction company will earn $0.30 per share for the quarter, down from their prior estimate of $0.50. The consensus estimate for Summit Materials’ current full-year earnings is $1.63 per share. Seaport Res Ptn also issued estimates for Summit Materials’ Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at $0.72 EPS, Q3 2025 earnings at $0.81 EPS, Q4 2025 earnings at $0.45 EPS and FY2026 earnings at $2.10 EPS.

A number of other analysts have also commented on the stock. Stifel Nicolaus cut their price objective on shares of Summit Materials from $55.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Barclays raised shares of Summit Materials from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $45.00 to $52.00 in a research report on Tuesday. Truist Financial decreased their price objective on Summit Materials from $53.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Stephens reiterated an “overweight” rating and set a $47.00 target price on shares of Summit Materials in a report on Tuesday, August 6th. Finally, Jefferies Financial Group decreased their price target on Summit Materials from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.42.

Summit Materials Trading Up 0.9 %

NYSE SUM opened at $46.42 on Wednesday. Summit Materials has a 52 week low of $32.32 and a 52 week high of $46.97. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.01 and a current ratio of 2.62. The stock’s 50 day moving average price is $39.35 and its two-hundred day moving average price is $38.82. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 20.72 and a beta of 1.17.

Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.14 billion. Summit Materials had a return on equity of 7.00% and a net margin of 8.06%. The company’s quarterly revenue was up 58.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 earnings per share.

Institutional Investors Weigh In On Summit Materials

Large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in shares of Summit Materials in the third quarter valued at $27,000. Toth Financial Advisory Corp lifted its stake in shares of Summit Materials by 147.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock worth $33,000 after buying an additional 500 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Summit Materials by 3,804.2% during the 3rd quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock worth $37,000 after buying an additional 913 shares during the period. Quest Partners LLC acquired a new position in Summit Materials in the 2nd quarter valued at about $40,000. Finally, Farther Finance Advisors LLC raised its holdings in Summit Materials by 275.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,296 shares of the construction company’s stock valued at $51,000 after acquiring an additional 951 shares during the period.

About Summit Materials

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.