$1.47 EPS Expected for Beacon Roofing Supply, Inc. (NASDAQ:BECN) This Quarter
Wall Street Analysts Expect Beacon Roofing Supply, Inc. (NASDAQ:BECN) will announce earnings per share (EPS) of $1.47 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Beacon Roofing Supply’s revenue. The highest estimate of the EPS is $1.63 and the lowest is $1.33. Beacon Roofing Supply reported earnings per share of $1.30 in the year-ago quarter, indicating positive year-over-year growth of 13.1%. The company is expected to release its next quarterly results on Thursday, November 18.
On average, analysts expect Beacon Roofing Supply to report full-year earnings of $4.33 per share for the current fiscal year, with estimates of earnings per share ranging from $3.73 to $4.95. For the next fiscal year, analysts expect the company to earn earnings of $4.60 per share, with earnings per share estimates ranging from $3.95 to $5.39. Zacks’ earnings per share averages are an average based on a survey of research analysts reporting from Beacon Roofing Supply.
A number of research analysts have released reports on BECN stocks. Jefferies Financial Group downgraded Beacon Roofing Supply’s stock from a “buy” to a “hold” rating and lowered its price target for the company from $69.00 to $56.00 in a report on Tuesday, Aug. 10. Zacks Investment Research downgraded Beacon Roofing Supply’s stock from a “buy” rating to a “hold” rating and set a $55.00 price target on the stock. in a report dated Wednesday, August 11. TheStreet upgraded Beacon Roofing Supply’s stock from a “c+” rating to a “b” rating in a report on Friday, Aug. 6. Wells Fargo & Company began a research note on Beacon Roofing Supply’s shares on Thursday, July 15. They set an equal weight rating and a $58.00 price target for the stock. Finally, Stephens raised their target price on shares of Beacon Roofing Supply from $56.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, Aug. 23. Eight stock research analysts have given the stock a hold rating and six have given the company a buy rating. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.15.
In related news, major shareholder Cd&R Investment Associates Ix bought 108,056 shares of the company in a transaction that took place on Friday, July 30. The stock was acquired at an average price of $55.53 per share, for a total value of $6,000,000,349.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed at: this link. Also, CEO Julian Franciso bought 5,000 shares of the stock in a transaction on Tuesday, Aug. 17. The shares were acquired at an average cost of $48.90 per share, for a total value of $244,500. The disclosure for this purchase can be found here. 1.00% of the shares are currently owned by company insiders.
Several institutional investors have recently increased or decreased their stake in the company. Barrow Hanley Mewhinney & Strauss LLC increased its stake in the shares of Beacon Roofing Supply by 18.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,678 shares of the company valued at $89,000 after purchasing an additional 257 shares during the period. Envestnet Asset Management Inc. increased its stake in the shares of Beacon Roofing Supply by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 16,427 shares of the company worth $859,000 after purchasing an additional 321 shares during the period. Legal & General Group Plc increased its stake in the shares of Beacon Roofing Supply by 0.6% in the second quarter. Legal & General Group Plc now owns 59,397 shares of the company worth $3,163,000 after purchasing an additional 337 shares during the period. Shell Asset Management Co. increased its holding in the shares of Beacon Roofing Supply by 5.7% in the second quarter. Shell Asset Management Co. now owns 7,186 shares of the company worth $383,000, having purchased an additional 390 shares during the period. Finally, Convergence Investment Partners LLC increased its stake in the shares of Beacon Roofing Supply by 15.6% in the second quarter. Convergence Investment Partners LLC now owns 3,498 shares of the company valued at $186,000 after purchasing an additional 472 shares during the period.
Shares of BECN rose $0.51 in afternoon trading on Wednesday, reaching $51.37. 229,578 shares of the company were exchanged, compared to the average volume of 364,946. The company has a market cap of $3.60 billion, a P/E ratio of -29.87 and a beta of 2.01. Beacon Roofing Supply has a fifty-two week low of $27.61 and a fifty-two week high of $60.93. The company’s 50-day moving average is $52.23 and its two-hundred-day moving average is $53.82. The company has a current ratio of 1.65, a quick ratio of 0.93 and a debt-to-equity ratio of 0.99.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials. It also distributes complementary building products, including siding, windows, specialty exterior building products, insulation and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.
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