Wall Street analysts expect Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) to post earnings of $2.31 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Beacon Roofing Supply’s earnings. The highest EPS estimate is $2.50 and the lowest is $2.06. Beacon Roofing Supply posted earnings per share of $1.59 during the same quarter last year, which would indicate a positive year over year growth rate of 45.3%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Beacon Roofing Supply will report full-year earnings of $6.48 per share for the current financial year, with EPS estimates ranging from $5.41 to $7.28. For the next fiscal year, analysts expect that the business will post earnings of $6.65 per share, with EPS estimates ranging from $5.72 to $7.60. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.40. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.43 billion. Beacon Roofing Supply had a return on equity of 26.21% and a net margin of 4.24%.
A number of analysts have weighed in on the company. Truist Financial reduced their target price on Beacon Roofing Supply from $58.00 to $55.00 in a research note on Monday, February 7th. Robert W. Baird raised their price target on Beacon Roofing Supply from $74.00 to $83.00 in a report on Friday, May 6th. StockNews.com initiated coverage on Beacon Roofing Supply in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “strong-buy” rating and set a $73.00 price target for the company in a research report on Thursday, May 19th. Finally, JPMorgan Chase & Co. cut their price objective on Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating for the company in a research report on Wednesday, April 20th. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus price target of $65.22.
Shares of BECN traded down $0.07 during mid-day trading on Friday, hitting $62.95. 394,796 shares of the stock were exchanged, compared to its average volume of 584,830. The company has a market cap of $4.33 billion, a PE ratio of 18.19 and a beta of 1.77. Beacon Roofing Supply has a 52-week low of $46.62 and a 52-week high of $64.90. The firm has a 50-day moving average of $60.18 and a two-hundred day moving average of $57.57. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 1.85.
In other news, major shareholder Cd&R Investment Associates Ix, bought 102,219 shares of the business’s stock in a transaction on Friday, April 29th. The stock was purchased at an average cost of $58.70 per share, for a total transaction of $6,000,255.30. Following the completion of the transaction, the insider now directly owns 14,755,648 shares of the company’s stock, valued at approximately $866,156,537.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clement Munroe Best III sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $63.00, for a total value of $252,000.00. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Ellevest Inc. boosted its holdings in Beacon Roofing Supply by 1,193.9% during the first quarter. Ellevest Inc. now owns 427 shares of the company’s stock valued at $25,000 after acquiring an additional 394 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Beacon Roofing Supply during the fourth quarter worth approximately $26,000. Advisor Group Holdings Inc. grew its stake in shares of Beacon Roofing Supply by 37.5% during 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 during the last quarter. UBS Group AG grew its stake in shares of Beacon Roofing Supply by 44.5% during the third quarter. UBS Group AG now owns 1,455 shares of the company’s stock valued at $69,000 after purchasing an additional 448 shares during the last quarter. Finally, Gladius Capital Management LP bought a new position in Beacon Roofing Supply in the fourth quarter valued at approximately $92,000.
About Beacon Roofing Supply (Get Rating)
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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