Wall Street analysts expect Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) to post earnings of $2.11 per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Beacon Roofing Supply’s earnings. The highest EPS estimate is $2.50 and the lowest is $1.67. Beacon Roofing Supply posted earnings per share of $1.59 in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.7%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Beacon Roofing Supply will report full year earnings of $6.08 per share for the current year, with EPS estimates ranging from $5.23 to $7.28. For the next fiscal year, analysts anticipate that the business will report earnings of $6.20 per share, with EPS estimates ranging from $5.39 to $7.60. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover Beacon Roofing Supply.
A number of analysts recently weighed in on BECN shares. Robert W. Baird increased their price target on shares of Beacon Roofing Supply from $74.00 to $83.00 in a research report on Friday, May 6th. Truist Financial cut their price target on shares of Beacon Roofing Supply from $58.00 to $55.00 in a research report on Monday, February 7th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Wells Fargo & Company raised 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, April 21st. Finally, 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, April 20th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.22.
In other news, 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 value of $252,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 purchased at an average cost of $58.70 per share, with a total value of $6,000,255.30. Following the completion of the purchase, the insider now directly owns 14,755,648 shares of the company’s stock, valued at approximately $866,156,537.60. The disclosure for this purchase can be found here. 0.95% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC grew its stake in shares of Beacon Roofing Supply by 22.0% in the third quarter. Segall Bryant & Hamill LLC now owns 541,091 shares of the company’s stock valued at $25,840,000 after buying an additional 97,685 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Beacon Roofing Supply in the fourth quarter valued at $1,394,000. Kendall Capital Management bought a new position in shares of Beacon Roofing Supply in the fourth quarter valued at $258,000. Ironwood Investment Management LLC boosted its position in Beacon Roofing Supply by 1.4% during the fourth quarter. Ironwood Investment Management LLC now owns 29,938 shares of the company’s stock worth $1,717,000 after purchasing an additional 427 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new position in Beacon Roofing Supply during the fourth quarter worth $274,000.
Shares of NASDAQ:BECN opened at $61.28 on Friday. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 17.71 and a beta of 1.77. The firm’s 50 day simple moving average is $60.03 and its 200 day simple moving average is $57.09. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.85 and a quick ratio of 1.08. Beacon Roofing Supply has a fifty-two week low of $46.62 and a fifty-two week high of $64.90.
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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