Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities research analysts at SunTrust Banks lowered their Q3 2018 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a research note issued to investors on Wednesday. SunTrust Banks analyst K. Hughes now expects that the company will earn $0.93 per share for the quarter, down from their previous forecast of $1.08. SunTrust Banks also issued estimates for Beacon Roofing Supply’s FY2018 earnings at $2.60 EPS.

Several other research firms have also recently weighed in on BECN. Royal Bank Of Canada lifted their price target on shares of Beacon Roofing Supply from $51.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, May 8th. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “sell” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Thursday, April 13th. Citigroup Inc. restated a “buy” rating and set a $52.00 target price (up previously from $48.00) on shares of Beacon Roofing Supply in a report on Thursday, May 11th. William Blair restated a “neutral” rating and set a $45.00 target price on shares of Beacon Roofing Supply in a report on Friday, April 14th. Finally, Wedbush restated a “neutral” rating and set a $47.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $50.50.

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Beacon Roofing Supply (BECN) opened at 43.01 on Monday. Beacon Roofing Supply has a 52-week low of $39.50 and a 52-week high of $52.12. The firm has a market cap of $2.59 billion, a P/E ratio of 25.54 and a beta of 1.32. The company’s 50 day moving average is $48.19 and its 200-day moving average is $47.83.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.06. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The firm’s revenue was up 5.3% on a year-over-year basis.

Hedge funds have recently made changes to their positions in the stock. Bbva Compass Bancshares Inc. boosted its stake in shares of Beacon Roofing Supply by 3.7% in the first quarter. Bbva Compass Bancshares Inc. now owns 5,953 shares of the company’s stock worth $293,000 after buying an additional 212 shares during the period. First Trust Advisors LP boosted its stake in shares of Beacon Roofing Supply by 30.5% in the first quarter. First Trust Advisors LP now owns 60,440 shares of the company’s stock worth $2,971,000 after buying an additional 14,128 shares during the period. MUFG Securities EMEA plc acquired a new stake in shares of Beacon Roofing Supply during the first quarter worth approximately $8,849,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Beacon Roofing Supply by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 41,064 shares of the company’s stock worth $2,019,000 after buying an additional 104 shares during the period. Finally, Monarch Partners Asset Management LLC acquired a new stake in shares of Beacon Roofing Supply during the first quarter worth approximately $6,277,000.

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.

Earnings History and Estimates for Beacon Roofing Supply (NASDAQ:BECN)

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