Beacon Roofing Supply (NASDAQ:BECN – Get Rating) will announce its earnings results after the market closes on Thursday, November 3rd. Analysts expect the company to announce earnings of $2.10 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.36 by $0.05. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.28 billion. Beacon Roofing Supply had a return on equity of 29.19% and a net margin of 5.25%. Beacon Roofing Supply’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 EPS. On average, analysts expect Beacon Roofing Supply to post $7 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Beacon Roofing Supply Stock Performance
Shares of Beacon Roofing Supply stock opened at $54.64 on Thursday. The stock’s fifty day moving average is $55.82 and its two-hundred day moving average is $57.40. The company has a market capitalization of $3.55 billion, a PE ratio of 11.60 and a beta of 1.68. The company has a quick ratio of 1.02, a current ratio of 1.91 and a debt-to-equity ratio of 1.24. Beacon Roofing Supply has a 52 week low of $45.71 and a 52 week high of $65.30.
Insider Buying and Selling
In related news, insider Jason L. Taylor sold 4,000 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $57.30, for a total transaction of $229,200.00. Following the completion of the sale, the insider now directly owns 5,937 shares in the company, valued at approximately $340,190.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 103,931 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was bought at an average cost of $57.73 per share, for a total transaction of $5,999,936.63. Following the completion of the purchase, the insider now owns 14,859,579 shares in the company, valued at approximately $857,843,495.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason L. Taylor sold 4,000 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $57.30, for a total value of $229,200.00. Following the completion of the sale, the insider now owns 5,937 shares of the company’s stock, valued at $340,190.10. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Beacon Roofing Supply
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. Advisor Group Holdings Inc. raised its stake in Beacon Roofing Supply by 37.5% in the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after buying an additional 300 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Beacon Roofing Supply in the second quarter valued at about $202,000. Baird Financial Group Inc. purchased a new stake in Beacon Roofing Supply in the first quarter valued at about $209,000. First Republic Investment Management Inc. purchased a new stake in Beacon Roofing Supply in the first quarter valued at about $211,000. Finally, PFS Investments Inc. purchased a new stake in Beacon Roofing Supply in the first quarter valued at about $211,000.
Analyst Ratings Changes
Several equities analysts have commented on BECN shares. StockNews.com started coverage on Beacon Roofing Supply in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. dropped their price target on Beacon Roofing Supply from $66.00 to $59.00 in a research report on Friday, July 15th. Deutsche Bank Aktiengesellschaft dropped their price target on Beacon Roofing Supply from $90.00 to $79.00 and set a “buy” rating on the stock in a research report on Thursday, October 20th. Robert W. Baird downgraded Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $77.00 to $65.00 in a research report on Friday, October 14th. Finally, Stephens dropped their price target on Beacon Roofing Supply from $72.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, August 8th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.25.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.
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