Analysts Anticipate Beacon Roofing Supply, Inc. (NASDAQ:BECN) Will Post Earnings of $1.48 Per Share
Stock analysts predict that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will announce earnings per share (EPS) of $1.48 for the current fiscal quarter. To fail. Seven analysts have released estimates for Beacon Roofing Supply’s revenue, with estimates ranging from $1.42 to $1.63. Beacon Roofing Supply posted earnings of $1.30 per share in the year-ago quarter, indicating positive year-over-year growth of 13.8%. The company will announce its next earnings results on Thursday, November 18.
According to Zacks, analysts expect Beacon Roofing Supply to report full-year earnings of $4.48 per share for the current fiscal year, with estimates of earnings per share ranging from $4.33 to $4.95. For the coming year, analysts expect the company to reach earnings of $4.69 per share, with earnings per share estimates of $4.23 to $5.39. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sales analysts tracking Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ:BECN) last released its results on Thursday, August 5. The company reported $1.59 earnings per share for the quarter, beating Thomson Reuters’ consensus estimate of $1.31 by $0.28. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Beacon Roofing Supply had a positive return on equity of 20.79% and a negative net margin of 1.16%.
Several analysts have recently looked at the company. Robert W. Baird issued another “outperform” rating on Thursday, July 15, issuing a target price of $66.00 (vs. $65.00) on Beacon Roofing Supply shares. Wells Fargo & Company began reporting on Beacon Roofing Supply in a research note on Thursday, July 15. They set an “equal weight” rating and a $58.00 price target for the company. TheStreet raised Beacon Roofing Supply from a “c+” rating to a “b” rating in a research note on Friday, August 6. Zacks Investment Research Beacon Roofing Supply downgraded its rating from a “buy” rating to a “hold” rating and set a $55.00 target for the company. in a research note on Wednesday 11 August. Finally, in a report on Thursday, August 12, Berenberg Bank downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating. Eight research analysts have given the stock a hold rating and six have given the stock a buy rating. Based on MarketBeat data, the stock has an average rating of “Hold” and a consensus price target of $60.15.
NASDAQ:BECN opened at $47.64 on Tuesday. The stock has a 50-day simple moving average of $51.23 and a 200-day simple moving average of $53.59. The stock has a market cap of $3.34 billion, a P/E ratio of -27.70 and a beta of 2.01. Beacon Roofing Supply has a 1-year low of $30.49 and a 1-year high of $60.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.93 and a current ratio of 1.65.
In related news, major shareholder Cd&R Investment Associates Ix bought 108,056 shares of the company in a transaction on Friday, July 30. The shares were purchased at an average price of $55.53 per share, for a total transaction of $6,000,000,349.68. The acquisition was disclosed in a filing with the SEC, which can be accessed at: the SEC website. Also, CEO Julian Franciso bought 5,000 shares of the company in a transaction on Tuesday, August 17. The stock was purchased at an average price of $48.90 per share, with a total value of $244,500. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.
Institutional investors have recently increased or decreased their stake in the company. Advisory Services Network LLC acquired a new holding of approximately $25,000 in shares of Beacon Roofing Supply in the second quarter. The PNC Financial Services Group Inc. increased its stake in the shares of Beacon Roofing Supply by 287.5% during the 1st quarter. The PNC Financial Services Group Inc. now owns 775 shares of the company worth $41,000, after buying another 575 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in the shares of Beacon Roofing Supply by 47.7% during the second quarter. Advisor Group Holdings Inc. now owns 1,645 shares of the company worth $87,000, having bought an additional 531 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in the shares of Beacon Roofing Supply by 18.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,678 shares of the company worth $89,000 after buying an additional 257 shares in the last quarter. Finally, Convergence Investment Partners LLC increased its stake in the shares of Beacon Roofing Supply by 15.6% during 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 in the last quarter.
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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