Wall Street brokerages expect Beacon Roofing Supply, Inc. (NASDAQ:BECN) to post earnings of $1.37 per share for the current quarter, Zacks reports. Ten analysts have issued estimates for Beacon Roofing Supply’s earnings. The highest EPS estimate is $1.42 and the lowest is $1.29. Beacon Roofing Supply reported earnings per share of $0.93 in the same quarter last year, which indicates a positive year over year growth rate of 47.3%. The business is scheduled to announce its next earnings results after the market closes on Monday, November 19th.
On average, analysts expect that Beacon Roofing Supply will report full-year earnings of $3.02 per share for the current fiscal year, with EPS estimates ranging from $2.97 to $3.07. For the next financial year, analysts forecast that the company will post earnings of $3.84 per share, with EPS estimates ranging from $3.48 to $4.21. Zacks’ EPS averages 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 issued its quarterly earnings results on Tuesday, August 7th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.14). Beacon Roofing Supply had a return on equity of 9.94% and a net margin of 1.65%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the business earned $0.84 EPS.
Several brokerages have recently issued reports on BECN. JPMorgan Chase & Co. decreased their price target on shares of Beacon Roofing Supply from $53.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, August 10th. Raymond James set a $45.00 price target on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a research note on Thursday, October 25th. Royal Bank of Canada restated a “hold” rating and set a $41.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, August 8th. Jefferies Financial Group restated a “hold” rating and set a $40.00 price target on shares of Beacon Roofing Supply in a research note on Friday, August 10th. Finally, BidaskClub lowered shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Friday, July 13th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $49.53.
Shares of BECN stock traded up $0.19 during trading hours on Friday, hitting $28.98. 71,413 shares of the company were exchanged, compared to its average volume of 1,412,239. The company has a quick ratio of 1.14, a current ratio of 2.07 and a debt-to-equity ratio of 1.63. Beacon Roofing Supply has a 52-week low of $24.97 and a 52-week high of $66.47. The firm has a market cap of $2.06 billion, a P/E ratio of 13.21, a PEG ratio of 0.42 and a beta of 1.44.
In other news, major shareholder Cd&R Investment Associates Ix, purchased 314,400 shares of Beacon Roofing Supply stock in a transaction dated Thursday, August 9th. The stock was purchased at an average cost of $38.77 per share, for a total transaction of $12,189,288.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Philip Knisely purchased 6,000 shares of Beacon Roofing Supply stock in a transaction dated Thursday, August 16th. The shares were purchased at an average price of $37.14 per share, with a total value of $222,840.00. Following the completion of the transaction, the director now directly 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 currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Beacon Roofing Supply by 1.3% during the 2nd quarter. BlackRock Inc. now owns 5,024,154 shares of the company’s stock valued at $214,131,000 after purchasing an additional 65,371 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in shares of Beacon Roofing Supply by 15.5% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,748,239 shares of the company’s stock valued at $135,649,000 after purchasing an additional 502,149 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Beacon Roofing Supply by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,150 shares of the company’s stock valued at $116,912,000 after purchasing an additional 206,232 shares in the last quarter. Jennison Associates LLC grew its position in shares of Beacon Roofing Supply by 4.9% during the 2nd quarter. Jennison Associates LLC now owns 2,232,522 shares of the company’s stock valued at $95,150,000 after purchasing an additional 104,281 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Beacon Roofing Supply by 3.6% during the 2nd quarter. Fisher Asset Management LLC now owns 1,847,197 shares of the company’s stock valued at $78,728,000 after purchasing an additional 64,900 shares in the last quarter.
About Beacon Roofing Supply
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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