Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Research analysts at William Blair issued their Q2 2018 earnings estimates for shares of Beacon Roofing Supply in a research report issued on Wednesday. William Blair analyst R. Merkel anticipates that the company will post earnings of ($0.04) per share for the quarter. William Blair currently has a “Neutral” rating and a $45.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada cut their target price on Beacon Roofing Supply from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday. BidaskClub cut Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Wedbush restated a “neutral” rating and set a $47.00 price objective on shares of Beacon Roofing Supply in a research note on Wednesday, May 31st. Finally, Citigroup Inc. restated a “buy” rating and set a $52.00 price objective (up from $48.00) on shares of Beacon Roofing Supply in a research note on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Beacon Roofing Supply has an average rating of “Hold” and an average target price of $50.50.

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Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.06. The firm 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%. Beacon Roofing Supply’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share.

Institutional investors have recently modified their holdings of the stock. Legato Capital Management LLC boosted its position in shares of Beacon Roofing Supply by 4,816.0% in the first quarter. Legato Capital Management LLC now owns 100,090 shares of the company’s stock valued at $2,036,000 after buying an additional 98,054 shares during the period. Rice Hall James & Associates LLC boosted its position in shares of Beacon Roofing Supply by 61.0% in the first quarter. Rice Hall James & Associates LLC now owns 411,560 shares of the company’s stock valued at $20,232,000 after buying an additional 156,002 shares during the period. First Manhattan Co. boosted its position in shares of Beacon Roofing Supply by 0.3% in the first quarter. First Manhattan Co. now owns 325,710 shares of the company’s stock valued at $13,702,000 after buying an additional 927 shares during the period. Fisher Asset Management LLC boosted its position in shares of Beacon Roofing Supply by 2.0% in the first quarter. Fisher Asset Management LLC now owns 1,707,865 shares of the company’s stock valued at $83,959,000 after buying an additional 33,034 shares during the period. Finally, Strs Ohio boosted its position in shares of Beacon Roofing Supply by 0.4% in the first quarter. Strs Ohio now owns 111,100 shares of the company’s stock valued at $5,461,000 after buying an additional 400 shares during the period.

About Beacon Roofing Supply

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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