Beacon Roofing Supply (NASDAQ:BECN – Get Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, August 4th. Analysts expect the company to announce earnings of $2.36 per share for the quarter. Parties that are 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, May 5th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.40. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.43 billion. Beacon Roofing Supply had a net margin of 4.24% and a return on equity of 26.21%. 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 Trading Up 1.4 %
BECN opened at $57.02 on Thursday. The firm’s fifty day moving average is $56.45 and its two-hundred day moving average is $57.63. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 1.85. The firm has a market cap of $3.92 billion, a PE ratio of 16.48 and a beta of 1.78. Beacon Roofing Supply has a twelve month low of $45.71 and a twelve month high of $65.30.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on BECN shares. William Blair lowered shares of Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 19th. StockNews.com started coverage on shares of Beacon Roofing Supply in a report on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Beacon Roofing Supply from $66.00 to $59.00 in a report on Friday, July 15th. Royal Bank of Canada lowered shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $70.00 to $58.00 in a report on Wednesday, June 22nd. Finally, Wells Fargo & Company cut their target price on shares of Beacon Roofing Supply from $67.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 28th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Beacon Roofing Supply presently has an average rating of “Hold” and a consensus price target of $61.38.
Insider Activity at Beacon Roofing Supply
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 102,219 shares of the firm’s stock in a transaction that occurred on Friday, April 29th. The stock was acquired at an average price of $58.70 per share, with a total value of $6,000,255.30. Following the completion of the transaction, the insider now owns 14,755,648 shares in the company, valued at $866,156,537.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. grew its position 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 purchasing an additional 300 shares in the last quarter. Baird Financial Group Inc. bought a new position in Beacon Roofing Supply in the first quarter valued at $209,000. PFS Investments Inc. bought a new position in Beacon Roofing Supply in the first quarter valued at $211,000. First Republic Investment Management Inc. bought a new position in Beacon Roofing Supply in the first quarter valued at $211,000. Finally, Quantamental Technologies LLC bought a new position in Beacon Roofing Supply in the first quarter valued at $223,000.
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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