Beacon Roofing Supply (BECN) to Release Quarterly Earnings on Thursday
Beacon Roofing Supply (NASDAQ:BECN) will release its quarterly earnings after the market closes on Thursday, August 5. Analysts expect the company to announce earnings of $1.31 per share for the quarter. Parties wishing to register for the company’s conference call can do so via this link.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly results on Thursday, May 6. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.22. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Beacon Roofing Supply had a negative net margin of 2.41% and a positive return on equity of 16.33%. Analysts expect Beacon Roofing Supply to average $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Beacon Roofing Supply stock opened at $52.89 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.04 and a quick ratio of 1.24. The company has a market cap of $3.70 billion, a P/E ratio of -19.09 and a beta of 2.02. The stock has a simple 50-day moving average of $54.38. Beacon Roofing Supply has a 12-month low of $27.61 and a 12-month high of $60.93.
BECN has been the subject of several recent research reports. Wells Fargo & Company acquired the shares of Beacon Roofing Supply in a research note on Thursday, July 15. They gave the company an “equal weight” rating and a price target of $58.00. Truist Securities raised its price target on shares of Beacon Roofing Supply from $49.00 to $68.00 in a research report on Friday, May 7. Loop Capital raised its price target for shares of Beacon Roofing Supply from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, April 20. Robert W. Baird reiterated an “outperform” rating and set a price target of $66.00 (previously up $65.00) for shares of Beacon Roofing Supply in a research report on Thursday, July 15. Finally, Truist raised their price target for shares of Beacon Roofing Supply from $49.00 to $68.00 in a research report on Friday, May 7. Six equity research analysts have rated the stock with a hold rating and seven have recommended the company’s stock to buy. The company currently has a consensus rating of “Buy” and a consensus price target of $56.08.
In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 4,000 shares of the company in a transaction dated Friday, May 7. The shares were sold at an average price of $60.00 for a total value of $240,000. 1.00% of the shares are currently owned by business insiders.
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.
Further reading: What is a death cross?
This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story has been reviewed by the editors of MarketBeat prior to publication. Send any questions or comments about this story to [email protected]
Recommended article: What is the FTSE 100 Index?
7 stocks to buy that will benefit from inflation
There are two stories that are mixed up when it comes to inflation. The first is whether or not there is inflation. And the second is whether inflation will spiral out of control.
On the first point, the obvious answer is absolute. There are price increases in everything from raw materials to semiconductor chips. And while timber prices have fallen, it’s a good bet that many consumers will put off their decking projects for another day.
And, of course, inflation numbers tend to exclude gas and groceries — but those are exactly the areas where consumers feel inflation the most. Inflation is real.
But is this just “transient” as many analysts and the Fed itself claim? Or is this just the start of something much worse? The answer to those questions is probably above our pay scale.
As an investor, the inflation story only changes where you allocate your investment dollars. And for the most part, you’re probably only looking at a small percentage of your portfolio.
However, the first rule of investing is not to lose money, so it’s important to identify companies that can provide a hedge against inflation — temporary or otherwise.
That is the focus of this special presentation. Right now, there are many strong companies benefiting from rising inflation.
Check out the “7 Stocks to Buy That Will Benefit From Inflation”.