Wall Street analysts expect Beacon Roofing Supply, Inc. (NASDAQ:BECN) to report $2.01 billion in sales for the current quarter, according to Zacks. Ten analysts have issued estimates for Beacon Roofing Supply’s earnings. The highest sales estimate is $2.04 billion and the lowest is $1.97 billion. Beacon Roofing Supply reported sales of $1.29 billion in the same quarter last year, which indicates a positive year over year growth rate of 55.8%. The business is scheduled to issue its next quarterly earnings report after the market closes on Monday, November 19th.
According to Zacks, analysts expect that Beacon Roofing Supply will report full year sales of $6.50 billion for the current fiscal year, with estimates ranging from $6.45 billion to $6.52 billion. For the next fiscal year, analysts forecast that the firm will report sales of $7.41 billion, with estimates ranging from $7.22 billion to $7.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Tuesday, August 7th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.14). The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.07 billion. Beacon Roofing Supply had a net margin of 1.65% and a return on equity of 9.94%. During the same quarter last year, the firm posted $0.84 EPS.
A number of brokerages recently weighed in on BECN. BidaskClub cut shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a report on Friday, July 13th. Citigroup cut shares of Beacon Roofing Supply from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $51.00 to $44.00 in a report on Wednesday, August 8th. Royal Bank of Canada restated a “hold” rating and issued a $41.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday, August 8th. Seaport Global Securities set a $52.00 price objective on shares of Beacon Roofing Supply and gave the company a “buy” rating in a report on Sunday, August 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Beacon Roofing Supply from $53.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, August 10th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $49.53.
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 314,400 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, August 9th. The stock was purchased at an average price of $38.77 per share, for a total transaction of $12,189,288.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Philip Knisely purchased 6,000 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, August 16th. The stock was acquired at an average price of $37.14 per share, with a total value of $222,840.00. Following the transaction, the director now owns 6,000 shares in the company, valued at $222,840. The disclosure for this purchase can be found here. 0.77% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in BECN. Advisors Asset Management Inc. raised its position in Beacon Roofing Supply by 1,809.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 61,196 shares of the company’s stock valued at $119,000 after purchasing an additional 57,991 shares during the last quarter. Suntrust Banks Inc. purchased a new stake in Beacon Roofing Supply in the 1st quarter valued at $211,000. Jane Street Group LLC purchased a new stake in Beacon Roofing Supply in the 2nd quarter valued at $226,000. Eqis Capital Management Inc. purchased a new stake in Beacon Roofing Supply in the 2nd quarter valued at $261,000. Finally, CIBC World Markets Inc. purchased a new stake in Beacon Roofing Supply in the 2nd quarter valued at $277,000.
Shares of BECN stock opened at $30.27 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.07 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $2.06 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. Beacon Roofing Supply has a fifty-two week low of $24.97 and a fifty-two week high of $66.47.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.
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