Wall Street brokerages expect that Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) will announce sales of $2.28 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Beacon Roofing Supply’s earnings, with estimates ranging from $2.25 billion to $2.31 billion. Beacon Roofing Supply reported sales of $1.87 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.9%. The business is expected to announce its next earnings results on Monday, January 1st.
On average, analysts expect that Beacon Roofing Supply will report full-year sales of $8.21 billion for the current financial year, with estimates ranging from $8.12 billion to $8.34 billion. For the next financial year, analysts forecast that the company will report sales of $8.52 billion, with estimates ranging from $8.14 billion to $8.82 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.40. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Beacon Roofing Supply had a net margin of 4.24% and a return on equity of 26.21%.
Several analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Beacon Roofing Supply from $59.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, April 21st. Truist Financial lowered their target price on shares of Beacon Roofing Supply from $58.00 to $55.00 in a research note on Monday, February 7th. Robert W. Baird boosted their target price on shares of Beacon Roofing Supply from $74.00 to $83.00 in a research note on Friday, May 6th. JPMorgan Chase & Co. lowered their target price on shares of Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating for the company in a research note on Wednesday, April 20th. Finally, StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Thursday, March 31st. They set a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $65.22.
In other news, major shareholder Cd&R Investment Associates Ix, purchased 102,219 shares of the stock in a transaction dated Friday, April 29th. The stock was acquired at an average price of $58.70 per share, for a total transaction of $6,000,255.30. Following the completion of the transaction, the insider now owns 14,755,648 shares of the company’s stock, valued at $866,156,537.60. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Clement Munroe Best III sold 4,000 shares of the stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $63.00, for a total transaction of $252,000.00. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Ellevest Inc. grew its position in Beacon Roofing Supply by 1,193.9% in the 1st quarter. Ellevest Inc. now owns 427 shares of the company’s stock valued at $25,000 after buying an additional 394 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at about $26,000. Advisor Group Holdings Inc. increased its holdings in Beacon Roofing Supply by 37.5% in the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after buying an additional 300 shares during the last quarter. UBS Group AG increased its holdings in Beacon Roofing Supply by 44.5% in the third quarter. UBS Group AG now owns 1,455 shares of the company’s stock worth $69,000 after buying an additional 448 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new position in Beacon Roofing Supply in the fourth quarter worth approximately $92,000.
BECN opened at $62.95 on Monday. The stock has a market capitalization of $4.33 billion, a PE ratio of 18.19 and a beta of 1.77. The firm’s fifty day moving average price is $60.18 and its 200 day moving average price is $57.57. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.85 and a quick ratio of 0.92. Beacon Roofing Supply has a 12-month low of $46.62 and a 12-month high of $64.90.
About Beacon Roofing Supply (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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