Beacon Roofing Supply (BECN) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS
Beacon Roofing Supply (NASDAQ:BECN) announced its earnings results on Friday. The company reported $0.54 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.60 by $0.06, ARN reports. The company had revenue of $663.40 million for the quarter, compared to the consensus estimate of $662.94 million. During the same quarter last year, the company posted $0.62 earnings per share. Beacon Roofing Supply’s revenue was up 5.8% compared to the same quarter last year.
Beacon Roofing Supply (NASDAQ:BECN) opened at 28.44 on Friday. Beacon Roofing Supply has a 1-year low of $27.45 and a 1-year high of $41.38. The stock has a 50-day moving average of $30.25 and a 200-day moving average of $35.13. The company has a market cap of $1.402 billion and a price-to-earnings ratio of 24.59.
A number of analysts have recently weighed in on BECN shares. Analysts at William Blair downgraded shares of Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 8th. On a related note, analysts at Longbow Research upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating in a research note on Monday, May 19th. They now have a $42.00 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of Beacon Roofing Supply from $41.00 to $38.00 in a research note on Monday, May 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $41.25.
Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States and Canada.
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