Analysts predict that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will post sales of $1.66 billion for the current quarter, Zacks reports. Nine analysts have made estimates for Beacon Roofing Supply’s earnings. The highest sales estimate is $1.73 billion and the lowest is $1.53 billion. Beacon Roofing Supply posted sales of $1.12 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 48.2%. The business is scheduled to announce its next quarterly earnings report on Thursday, February 14th.
According to Zacks, analysts expect that Beacon Roofing Supply will report full year sales of $7.13 billion for the current year, with estimates ranging from $7.02 billion to $7.19 billion. For the next year, analysts forecast that the firm will report sales of $7.38 billion, with estimates ranging from $7.17 billion to $7.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Monday, November 19th. The company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.29). The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Beacon Roofing Supply had a net margin of 1.54% and a return on equity of 11.23%. Beacon Roofing Supply’s revenue was up 50.4% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share.
A number of equities research analysts have recently issued reports on BECN shares. BidaskClub downgraded shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 13th. Raymond James set a $45.00 price target on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research note on Thursday, October 25th. Wedbush reissued an “outperform” rating and issued a $50.00 price target on shares of Beacon Roofing Supply in a research note on Thursday, August 23rd. SunTrust Banks reduced their price target on shares of Beacon Roofing Supply to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, November 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Beacon Roofing Supply currently has a consensus rating of “Hold” and an average target price of $41.13.
In other news, CEO Paul Isabella acquired 3,200 shares of the company’s stock in a transaction on Wednesday, November 21st. The shares were bought at an average cost of $31.76 per share, with a total value of $101,632.00. Following the transaction, the chief executive officer now owns 143,459 shares in the company, valued at approximately $4,556,257.84. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Frost acquired 10,675 shares of the company’s stock in a transaction on Wednesday, November 21st. The stock was purchased at an average cost of $31.61 per share, for a total transaction of $337,436.75. Following the completion of the transaction, the director now owns 22,495 shares in the company, valued at approximately $711,066.95. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 23,625 shares of company stock worth $753,469. 0.77% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in BECN. Allianz Asset Management GmbH purchased a new stake in shares of Beacon Roofing Supply in the 1st quarter valued at approximately $455,000. Bank of Montreal Can increased its position in shares of Beacon Roofing Supply by 18.2% in the 2nd quarter. Bank of Montreal Can now owns 20,667 shares of the company’s stock valued at $879,000 after purchasing an additional 3,179 shares during the last quarter. Eqis Capital Management Inc. purchased a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $261,000. Supplemental Annuity Collective Trust of NJ purchased a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $426,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $481,000.
Shares of Beacon Roofing Supply stock traded down $0.05 on Tuesday, reaching $34.86. The company had a trading volume of 1,160,984 shares, compared to its average volume of 1,668,957. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 0.58 and a beta of 1.44. Beacon Roofing Supply has a 52-week low of $24.97 and a 52-week high of $66.47. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.97 and a current ratio of 1.59.
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 solar systems.
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