Wall Street brokerages expect that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will post $1.66 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have provided 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 reported sales of $1.12 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 48.2%. The firm is expected to report its next earnings results on Thursday, February 14th.
On average, 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 fiscal year, analysts anticipate that the company will report sales of $7.38 billion, with estimates ranging from $7.17 billion to $7.54 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Monday, November 19th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.29). The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $2.01 billion. Beacon Roofing Supply had a return on equity of 11.23% and a net margin of 1.54%. The firm’s quarterly revenue was up 50.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 earnings per share.
BECN has been the subject of a number of research reports. Robert W. Baird downgraded Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $55.00 to $37.00 in a report on Tuesday, October 2nd. Longbow Research reiterated a “buy” rating on shares of Beacon Roofing Supply in a report on Monday, September 24th. Wedbush reiterated an “outperform” rating and set a $50.00 price objective on shares of Beacon Roofing Supply in a report on Thursday, August 23rd. William Blair downgraded Beacon Roofing Supply from an “outperform” rating to a “market perform” rating and set a $33.00 price objective for the company. in a report on Monday, October 8th. Finally, BidaskClub downgraded Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. Beacon Roofing Supply presently has an average rating of “Hold” and an average price target of $41.13.
In related news, EVP Christopher Anthony Harrison purchased 4,750 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was purchased at an average cost of $31.40 per share, for a total transaction of $149,150.00. Following the completion of the purchase, the executive vice president now directly owns 19,280 shares in the company, valued at $605,392. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carl T. Berquist acquired 5,000 shares of the business’s stock in a transaction dated Monday, November 26th. The stock was acquired at an average cost of $33.05 per share, with a total value of $165,250.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $330,500. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 23,625 shares of company stock valued at $753,469. Corporate insiders own 0.77% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in shares of Beacon Roofing Supply by 2.2% in the second quarter. Rhumbline Advisers now owns 73,265 shares of the company’s stock valued at $3,123,000 after buying an additional 1,544 shares during the last quarter. Greenwood Capital Associates LLC lifted its position in shares of Beacon Roofing Supply by 32.4% in the second quarter. Greenwood Capital Associates LLC now owns 6,599 shares of the company’s stock valued at $281,000 after buying an additional 1,613 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Beacon Roofing Supply by 8.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 22,983 shares of the company’s stock valued at $980,000 after buying an additional 1,730 shares during the last quarter. First Manhattan Co. lifted its position in shares of Beacon Roofing Supply by 0.6% in the second quarter. First Manhattan Co. now owns 309,683 shares of the company’s stock valued at $13,198,000 after buying an additional 1,875 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Beacon Roofing Supply by 9.7% in the third quarter. Bank of Montreal Can now owns 22,671 shares of the company’s stock valued at $821,000 after buying an additional 2,004 shares during the last quarter.
Shares of NASDAQ:BECN traded down $0.05 during mid-day trading on Tuesday, reaching $34.86. 1,160,984 shares of the stock were exchanged, compared to its average volume of 1,668,957. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.97 and a current ratio of 1.59. The company has a market cap of $2.38 billion, a PE ratio of 12.91, a PEG ratio of 0.58 and a beta of 1.44. Beacon Roofing Supply has a one year low of $24.97 and a one year high of $66.47.
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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