Analysts Offer Predictions for Beacon Roofing Supply, Inc.’s Q2 2018 Earnings (BECN)
Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities researchers at Northcoast Research issued their Q2 2018 EPS estimates for Beacon Roofing Supply in a research report issued on Tuesday. Northcoast Research analyst K. Hocevar anticipates that the company will post earnings per share of ($0.10) for the quarter. Northcoast Research has a “Buy” rating and a $53.00 price objective on the stock. Northcoast Research also issued estimates for Beacon Roofing Supply’s Q3 2018 earnings at $1.10 EPS, Q4 2018 earnings at $1.24 EPS and FY2018 earnings at $2.80 EPS.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research upgraded Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price objective for the company in a research report on Tuesday. SunTrust Banks, Inc. restated a “buy” rating and set a $55.00 price objective on shares of Beacon Roofing Supply in a research report on Monday. KeyCorp restated a “buy” rating and set a $56.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. Citigroup Inc. raised their price objective on Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. Finally, Jefferies Group LLC upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $54.00 in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $52.55.
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Beacon Roofing Supply (BECN) traded down 0.08% during trading on Thursday, hitting $52.87. The stock had a trading volume of 150,856 shares. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 31.40 and a beta of 1.32. The company has a 50-day moving average of $47.50 and a 200 day moving average of $48.01. Beacon Roofing Supply has a 52 week low of $39.57 and a 52 week high of $53.08.
Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.06). The company 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. BlackRock Inc. grew its stake in Beacon Roofing Supply by 80,484.5% during the first quarter. BlackRock Inc. now owns 4,021,973 shares of the company’s stock worth $197,720,000 after purchasing an additional 4,016,982 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in Beacon Roofing Supply during the first quarter worth approximately $21,690,000. Cramer Rosenthal Mcglynn LLC grew its stake in Beacon Roofing Supply by 51.2% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,174,020 shares of the company’s stock worth $57,527,000 after purchasing an additional 397,770 shares during the period. Vanguard Group Inc. grew its stake in Beacon Roofing Supply by 5.4% during the first quarter. Vanguard Group Inc. now owns 4,845,530 shares of the company’s stock worth $238,207,000 after purchasing an additional 246,233 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in 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 period. 91.22% of the stock is owned by institutional investors and hedge funds.
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.
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