$1.82 Billion in Sales Expected for Builders FirstSource, Inc. (NASDAQ:BLDR) This Quarter
Analysts expect Builders FirstSource, Inc. (NASDAQ:BLDR) to report $1.82 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Builders FirstSource’s earnings, with the highest sales estimate coming in at $1.84 billion and the lowest estimate coming in at $1.77 billion. Builders FirstSource posted sales of $1.68 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.3%. The company is expected to report its next quarterly earnings results after the market closes on Thursday, August 3rd.
On average, analysts expect that Builders FirstSource will report full year sales of $1.82 billion for the current year, with estimates ranging from $6.81 billion to $7.07 billion. For the next financial year, analysts anticipate that the company will report sales of $7.37 billion per share, with estimates ranging from $7.21 billion to $7.55 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Builders FirstSource.
Builders FirstSource (NASDAQ:BLDR) last issued its earnings results on Monday, May 8th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.49 billion. Builders FirstSource had a return on equity of 48.88% and a net margin of 2.54%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) EPS.
A number of research analysts recently issued reports on the company. Zacks Investment Research lowered Builders FirstSource from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. BidaskClub upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. FBR & Co reiterated a “buy” rating and issued a $20.00 target price on shares of Builders FirstSource in a report on Tuesday, June 27th. Citigroup Inc. lifted their target price on Builders FirstSource from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, May 11th. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 target price (up from $19.00) on shares of Builders FirstSource in a report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $17.00.
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In other Builders FirstSource news, insider Morris E. Tolly sold 50,268 shares of Builders FirstSource stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $14.81, for a total transaction of $744,469.08. Following the completion of the sale, the insider now directly owns 126,205 shares of the company’s stock, valued at approximately $1,869,096.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Floyd F. Sherman sold 35,000 shares of Builders FirstSource stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $14.91, for a total value of $521,850.00. Following the sale, the chief executive officer now directly owns 633,635 shares of the company’s stock, valued at $9,447,497.85. The disclosure for this sale can be found here. 14.60% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Builders FirstSource during the first quarter worth about $108,000. Invictus RG acquired a new stake in shares of Builders FirstSource during the first quarter worth about $140,000. Envestnet Asset Management Inc. increased its stake in shares of Builders FirstSource by 68.3% in the first quarter. Envestnet Asset Management Inc. now owns 9,511 shares of the company’s stock worth $143,000 after buying an additional 3,861 shares during the period. Nine Chapters Capital Management LLC acquired a new stake in shares of Builders FirstSource during the first quarter worth about $150,000. Finally, Gargoyle Investment Advisor L.L.C. acquired a new stake in shares of Builders FirstSource during the first quarter worth about $177,000. 84.49% of the stock is owned by institutional investors.
Shares of Builders FirstSource (BLDR) opened at 15.60 on Thursday. The company has a market cap of $1.75 billion, a P/E ratio of 10.90 and a beta of 2.15. The company’s 50-day moving average price is $15.37 and its 200 day moving average price is $14.22. Builders FirstSource has a 52 week low of $9.04 and a 52 week high of $16.50.
Builders FirstSource Company Profile
Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.
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