Q3 2022 EPS Estimates for Beacon Roofing Supply, Inc. (NASDAQ:BECN) Boosted by Analyst

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Q3 2022 EPS Estimates for Beacon Roofing Supply, Inc. (NASDAQ:BECN) Boosted by Analyst
Q3 2022 EPS Estimates for Beacon Roofing Supply, Inc. (NASDAQ:BECN) Boosted by Analyst


Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) – Investment analysts at KeyCorp boosted their Q3 2022 earnings per share estimates for shares of Beacon Roofing Supply in a research note issued on Wednesday, August 17th. KeyCorp analyst K. Zener now expects that the company will post earnings of $2.08 per share for the quarter, up from their previous forecast of $1.87. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $6.78 per share.

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

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Beacon Roofing Supply in a report on Wednesday. They issued a “buy” rating on the stock. Robert W. Baird boosted their price objective on Beacon Roofing Supply from $74.00 to $83.00 in a research report on Friday, May 6th. JPMorgan Chase & Co. cut their price objective on Beacon Roofing Supply from $66.00 to $59.00 in a research report on Friday, July 15th. Stephens cut their price objective on Beacon Roofing Supply from $72.00 to $64.00 and set an “equal weight” rating for the company in a research report on Monday, August 8th. Finally, Wells Fargo & Company cut their price objective on Beacon Roofing Supply from $67.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 28th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.43.

Beacon Roofing Supply Trading Down 1.6%

NASDAQ:BECN opened at $61.40 on Friday. The company’s 50-day moving average is $56.03 and its 200-day moving average is $58.27. The company has a quick ratio of 1.02, a current ratio of 1.91 and a debt-to-equity ratio of 1.24. Beacon Roofing Supply has a 12 month low of $45.71 and a 12 month high of $65.30. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 13.04 and a beta of 1.79.

Insider Transactions at Beacon Roofing Supply

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Citigroup Inc. boosted its position in Beacon Roofing Supply by 18.3% in the 4th quarter. Citigroup Inc. now owns 35,158 shares of the company’s stock valued at $2,016,000 after buying an additional 5,447 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position 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 worth $83,510,000 after purchasing an additional 9,922 shares during the last quarter. Barclays PLC boosted its position in shares of Beacon Roofing Supply by 110.2% in the 4th quarter. Barclays PLC now owns 91,584 shares of the company’s stock worth $5,253,000 after purchasing an additional 48,008 shares during the last quarter. Ironwood Investment Management LLC boosted its position in shares of Beacon Roofing Supply by 1.4% in the 4th 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 last quarter. Finally, Blair William & Co. IL boosted its position in shares of Beacon Roofing Supply by 7.3% in the 4th quarter. Blair William & Co. IL now owns 14,657 shares of the company’s stock worth $841,000 after purchasing an additional 1,000 shares during the last quarter.

Beacon Roofing Supply Company Profile

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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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Q3 2022 EPS Estimates for Beacon Roofing Supply, Inc. (NASDAQ:BECN) Boosted by Analyst

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2022-08-20 05:36:58

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