Wall Street brokerages expect Beacon Roofing Supply, Inc. (NASDAQ:BECN) to report $2.01 billion in sales for the current quarter, according to Zacks. Ten analysts have made estimates for Beacon Roofing Supply’s earnings, with estimates ranging from $1.97 billion to $2.04 billion. Beacon Roofing Supply posted sales of $1.29 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 55.8%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Monday, November 19th.
On average, 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 financial year, analysts forecast that the company will post 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 analysts that cover Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results 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). Beacon Roofing Supply had a net margin of 1.65% and a return on equity of 9.94%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the company earned $0.84 earnings per share.
A number of analysts have weighed in on BECN shares. Raymond James set a $45.00 price target on Beacon Roofing Supply and gave the company a “buy” rating in a research report on Thursday, October 25th. Wedbush reiterated an “outperform” rating and issued a $50.00 price target on shares of Beacon Roofing Supply in a research report on Thursday, August 23rd. JPMorgan Chase & Co. reduced their price objective on Beacon Roofing Supply from $53.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, August 10th. BidaskClub lowered Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Friday, October 19th. Finally, Longbow Research reissued a “buy” rating on shares of Beacon Roofing Supply in a research note on Monday, September 24th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $49.53.
NASDAQ:BECN traded down $0.78 during trading hours on Friday, reaching $27.23. The company had a trading volume of 1,378,400 shares, compared to its average volume of 1,054,257. Beacon Roofing Supply has a one year low of $24.97 and a one year high of $66.47. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 0.39 and a beta of 1.44. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.07 and a quick ratio of 1.14.
In other news, Director Philip Knisely purchased 6,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were acquired at an average price of $37.14 per share, with a total value of $222,840.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $222,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.77% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Beacon Roofing Supply by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 32,918 shares of the company’s stock valued at $1,747,000 after purchasing an additional 1,840 shares during the last quarter. Guggenheim Capital LLC increased its holdings in Beacon Roofing Supply by 5.8% in the first quarter. Guggenheim Capital LLC now owns 23,925 shares of the company’s stock valued at $1,270,000 after purchasing an additional 1,318 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in Beacon Roofing Supply in the first quarter valued at about $455,000. Suntrust Banks Inc. bought a new stake in Beacon Roofing Supply in the first quarter valued at about $211,000. Finally, Fisher Asset Management LLC increased its holdings in Beacon Roofing Supply by 3.6% in the second 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 during the last quarter.
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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