Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Research analysts at Seaport Global Securities cut their FY2017 EPS estimates for Beacon Roofing Supply in a note issued to investors on Thursday. Seaport Global Securities analyst M. Mccall now forecasts that the company will post earnings per share of $2.20 for the year, down from their previous forecast of $2.40. Seaport Global Securities also issued estimates for Beacon Roofing Supply’s Q4 2017 earnings at $0.95 EPS, Q1 2018 earnings at $0.53 EPS, Q2 2018 earnings at $0.00 EPS, Q3 2018 earnings at $1.01 EPS, Q4 2018 earnings at $1.05 EPS and FY2018 earnings at $2.60 EPS.

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

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BECN has been the subject of a number of other reports. BidaskClub downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Wedbush reiterated a “neutral” rating and set a $47.00 price target on shares of Beacon Roofing Supply in a report on Wednesday, May 31st. Zacks Investment Research downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Monday, April 10th. Royal Bank Of Canada reiterated a “buy” rating and set a $58.00 price target on shares of Beacon Roofing Supply in a report on Monday, July 24th. Finally, William Blair reiterated a “neutral” rating and set a $45.00 price target on shares of Beacon Roofing Supply in a report on Friday, April 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $50.50.

Large investors have recently added to or reduced their stakes in the company. Pax World Management LLC boosted its stake in Beacon Roofing Supply by 75.1% in the second quarter. Pax World Management LLC now owns 306,376 shares of the company’s stock valued at $15,012,000 after buying an additional 131,376 shares in the last quarter. Redwood Investments LLC boosted its stake in Beacon Roofing Supply by 11.1% in the second quarter. Redwood Investments LLC now owns 187,099 shares of the company’s stock valued at $9,168,000 after buying an additional 18,746 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Beacon Roofing Supply during the second quarter valued at about $533,000. Jennison Associates LLC boosted its stake in Beacon Roofing Supply by 132.4% in the second quarter. Jennison Associates LLC now owns 279,488 shares of the company’s stock valued at $13,695,000 after buying an additional 159,210 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Beacon Roofing Supply by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 1,061,255 shares of the company’s stock valued at $51,999,000 after buying an additional 22,749 shares in the last quarter.

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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