FY2022 EPS Estimates for Beacon Roofing Supply, Inc. Raised by KeyCorp (NASDAQ:BECN)

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FY2022 EPS Estimates for Beacon Roofing Supply, Inc. Raised by KeyCorp (NASDAQ:BECN)
FY2022 EPS Estimates for Beacon Roofing Supply, Inc. Raised by KeyCorp (NASDAQ:BECN)


Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) – Equities researchers at KeyCorp increased their FY2022 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a research note issued to investors on Wednesday, August 17th. KeyCorp analyst K. Zener now anticipates that the company will earn $6.59 per share for the year, up from their prior forecast of $6.27. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $6.82 per share. KeyCorp also issued estimates for Beacon Roofing Supply’s Q4 2022 earnings at $1.17 EPS and FY2023 earnings at $6.07 EPS.

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.44. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.28 billion. Beacon Roofing Supply had a return on equity of 29.19% and a net margin of 5.25%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.59 EPS.

FY2022 EPS Estimates for Beacon Roofing Supply, Inc. Raised by KeyCorp (NASDAQ:BECN)

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Several other brokerages also recently commented on BECN. Wells Fargo & Company dropped their price objective on Beacon Roofing Supply from $67.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 28th. Robert W. Baird raised their price objective on Beacon Roofing Supply from $74.00 to $83.00 in a research note on Friday, May 6th. Royal Bank of Canada downgraded Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $70.00 to $58.00 in a research note on Wednesday, June 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on Beacon Roofing Supply in a research note on Wednesday, August 17th. They set a “buy” rating on the stock. Finally, William Blair downgraded Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 19th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Beacon Roofing Supply currently has an average rating of “Hold” and an average price target of $62.43.

Beacon Roofing Supply Stock Performance

BECN stock opened at $61.40 on Monday. The company has a market cap of $3.99 billion, a P/E ratio of 13.04 and a beta of 1.79. Beacon Roofing Supply has a twelve month low of $45.71 and a twelve month high of $65.30. The company has a quick ratio of 1.02, a current ratio of 1.91 and a debt-to-equity ratio of 1.24. The business’s fifty-day moving average is $56.03 and its 200-day moving average is $58.32.

Hedge Funds Weigh In On Beacon Roofing Supply

Several hedge funds have recently modified their holdings of the stock. Centiva Capital LP bought a new position in shares of Beacon Roofing Supply in the 2nd quarter valued at about $409,000. Captrust Financial Advisors grew its holdings in shares of Beacon Roofing Supply by 457.2% in the 2nd quarter. Captrust Financial Advisors now owns 115,430 shares of the company’s stock valued at $5,928,000 after acquiring an additional 94,713 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Beacon Roofing Supply in the 2nd quarter valued at about $544,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Beacon Roofing Supply by 4.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock valued at $144,131,000 after acquiring an additional 106,890 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Beacon Roofing Supply during the second quarter worth about $259,000.

Insiders Place Their Bets

In related news, major shareholder Cd&R Investment Associates Ix, acquired 103,931 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was bought at an average price of $57.73 per share, for a total transaction of $5,999,936.63. Following the acquisition, the insider now directly owns 14,859,579 shares of the company’s stock, valued at $857,843,495.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.95% of the company’s stock.

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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Earnings History and Estimates for Beacon Roofing Supply (NASDAQ:BECN)

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2022-08-22 05:46:39

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