Equities research analysts expect Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) to report $0.47 earnings 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 $0.64 and the lowest is $0.40. Beacon Roofing Supply reported earnings per share of $0.23 during the same quarter last year, which suggests a positive year over year growth rate of 104.3%. The company is expected to announce its next quarterly earnings results after the market closes on Monday, January 1st.
On average, analysts expect that Beacon Roofing Supply will report full year earnings of $5.32 per share for the current financial year, with EPS estimates ranging from $5.06 to $5.94. For the next financial year, analysts forecast that the business will report earnings of $5.70 per share, with EPS estimates ranging from $5.39 to $6.29. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its quarterly earnings results on Thursday, February 3rd. The company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.09. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.57 billion. Beacon Roofing Supply had a net margin of 3.56% and a return on equity of 23.98%.
Several research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of Beacon Roofing Supply from $58.00 to $55.00 in a report on Monday, February 7th. JPMorgan Chase & Co. dropped their target price on shares of Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating on the stock in a report on Wednesday. Robert W. Baird increased their target price on shares of Beacon Roofing Supply from $72.00 to $74.00 in a report on Tuesday, April 12th. Wells Fargo & Company increased their target price on shares of Beacon Roofing Supply from $59.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, StockNews.com assumed coverage on shares of Beacon Roofing Supply in a report on Thursday, March 31st. They set a “hold” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $62.22.
In related news, major shareholder Cd&R Investment Associates Ix, bought 107,456 shares of the company’s stock in a transaction on Friday, January 28th. The shares were bought at an average price of $55.84 per share, with a total value of $6,000,343.04. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 4,000 shares of Beacon Roofing Supply stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $63.00, for a total transaction of $252,000.00. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ellevest Inc. lifted its stake in Beacon Roofing Supply by 1,193.9% during the 1st 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. Waypoint Capital Advisors LLC acquired a new stake in Beacon Roofing Supply during the 1st quarter valued at approximately $2,426,000. Frontier Capital Management Co. LLC lifted its stake in shares of Beacon Roofing Supply by 0.7% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,408,741 shares of the company’s stock valued at $83,510,000 after purchasing an additional 9,922 shares during the period. Nordea Investment Management AB lifted its stake in shares of Beacon Roofing Supply by 4.7% in the 1st quarter. Nordea Investment Management AB now owns 207,643 shares of the company’s stock valued at $12,654,000 after purchasing an additional 9,237 shares during the period. Finally, American Trust acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at $224,000.
BECN stock traded down $1.07 during trading on Friday, hitting $60.05. The company had a trading volume of 456,106 shares, compared to its average volume of 392,335. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 0.94. Beacon Roofing Supply has a 52-week low of $46.62 and a 52-week high of $63.64. The company has a 50 day simple moving average of $59.00 and a 200-day simple moving average of $56.05. The firm has a market capitalization of $4.23 billion, a P/E ratio of 22.49 and a beta of 1.91.
Beacon Roofing Supply Company Profile (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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