Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities researchers at SunTrust Banks raised their FY2018 earnings per share estimates for Beacon Roofing Supply in a note issued to investors on Monday. SunTrust Banks analyst K. Hughes now expects that the company will earn $2.61 per share for the year, up from their previous forecast of $2.60. SunTrust Banks has a “Buy” rating and a $55.00 price objective on the stock.

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

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A number of other brokerages have also weighed in on BECN. Royal Bank Of Canada decreased their target price on Beacon Roofing Supply from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. BidaskClub lowered shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. KeyCorp reissued a “buy” rating and issued a $56.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. Finally, Jefferies Group LLC raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and raised their price target for the stock from $50.00 to $54.00 in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $52.55.

Shares of Beacon Roofing Supply (BECN) traded up 1.312% on Wednesday, reaching $52.915. 195,927 shares of the company’s stock were exchanged. Beacon Roofing Supply has a one year low of $39.57 and a one year high of $53.01. The company’s 50 day moving average is $47.18 and its 200-day moving average is $47.98. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 31.422 and a beta of 1.32.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Beacon Roofing Supply by 1.0% during the second quarter. Vanguard Group Inc. now owns 4,892,191 shares of the company’s stock worth $239,718,000 after purchasing an additional 46,661 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Beacon Roofing Supply by 1.2% during the second quarter. BlackRock Inc. now owns 4,069,752 shares of the company’s stock worth $199,416,000 after purchasing an additional 47,779 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Beacon Roofing Supply by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,409,749 shares of the company’s stock worth $118,462,000 after purchasing an additional 113,306 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Beacon Roofing Supply by 10.4% during the second quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock worth $91,807,000 after purchasing an additional 176,659 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Beacon Roofing Supply by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,510,316 shares of the company’s stock worth $74,247,000 after purchasing an additional 33,546 shares during the last quarter. Institutional investors and hedge funds own 91.22% of the company’s stock.

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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