Beacon Roofing Supply, Inc. (BECN) Expected to Post Quarterly Sales of $1.27 Billion
Wall Street analysts expect that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will post sales of $1.27 billion for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Beacon Roofing Supply’s earnings, with estimates ranging from $1.26 billion to $1.29 billion. Beacon Roofing Supply reported sales of $1.15 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.4%. The business is expected to issue its next earnings results after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that Beacon Roofing Supply will report full year sales of $1.27 billion for the current financial year, with estimates ranging from $4.41 billion to $4.50 billion. For the next financial year, analysts expect that the company will report sales of $4.69 billion per share, with estimates ranging from $4.65 billion to $4.75 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, May 4th. The company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.02. Beacon Roofing Supply had a return on equity of 9.42% and a net margin of 2.37%. The firm had revenue of $870.70 million for the quarter, compared to analysts’ expectations of $814.74 million. During the same period in the previous year, the firm earned $0.03 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis.
A number of brokerages have issued reports on BECN. Zacks Investment Research downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Monday, April 10th. William Blair reiterated a “neutral” rating and set a $45.00 price target on shares of Beacon Roofing Supply in a research report on Friday, April 14th. Royal Bank Of Canada increased their price target on Beacon Roofing Supply from $51.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, May 8th. Citigroup Inc. reiterated a “buy” rating and set a $52.00 price target (up previously from $48.00) on shares of Beacon Roofing Supply in a research report on Thursday, May 11th. Finally, Wedbush reiterated a “neutral” rating and set a $47.00 price target on shares of Beacon Roofing Supply in a research report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $51.50.
Beacon Roofing Supply (NASDAQ:BECN) traded down 0.53% on Thursday, hitting $47.05. The stock had a trading volume of 82,963 shares. The stock has a market cap of $2.84 billion, a P/E ratio of 28.71 and a beta of 1.33. Beacon Roofing Supply has a 12 month low of $39.50 and a 12 month high of $52.12. The company’s 50 day moving average is $48.53 and its 200-day moving average is $47.77.
Institutional investors have recently modified their holdings of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of Beacon Roofing Supply by 2,200.0% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,300 shares of the company’s stock worth $114,000 after buying an additional 2,200 shares in the last quarter. Lloyds Banking Group plc purchased a new position in Beacon Roofing Supply during the first quarter valued at $131,000. Huntington National Bank increased its position in Beacon Roofing Supply by 3.8% in the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock valued at $154,000 after buying an additional 116 shares during the period. Fifth Third Bancorp increased its position in Beacon Roofing Supply by 20.2% in the first quarter. Fifth Third Bancorp now owns 3,934 shares of the company’s stock valued at $193,000 after buying an additional 661 shares during the period. Finally, Worth Venture Partners LLC purchased a new position in Beacon Roofing Supply during the first quarter valued at $220,000.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.
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