FY2018 EPS Estimates for Beacon Roofing Supply, Inc. (BECN) Increased by Analyst
Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Investment analysts at Jefferies Group increased their FY2018 earnings per share estimates for Beacon Roofing Supply in a report issued on Thursday. Jefferies Group analyst P. Ng now forecasts that the company will earn $2.60 per share for the year, up from their previous estimate of $2.48. Jefferies Group currently has a “Buy” rating and a $54.00 target price on the stock.
Several other equities research analysts have also weighed in on the company. Citigroup Inc. boosted their target price on Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, August 28th. KeyCorp upgraded Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 target price for the company in a report on Friday, August 25th. Zacks Investment Research upgraded Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 target price for the company in a report on Tuesday, October 3rd. SunTrust Banks, Inc. restated a “buy” rating on shares of Beacon Roofing Supply in a report on Tuesday, September 12th. Finally, Northcoast Research upgraded Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.17.
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Shares of Beacon Roofing Supply (BECN) opened at 55.69 on Monday. The stock’s 50 day moving average is $50.86 and its 200-day moving average is $48.39. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 33.07 and a beta of 1.32. Beacon Roofing Supply has a 1-year low of $39.57 and a 1-year high of $56.36.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data 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). The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 EPS.
Several hedge funds have recently modified their holdings of the company. Skylands Capital LLC lifted its holdings in shares of Beacon Roofing Supply by 1,144.0% during the third quarter. Skylands Capital LLC now owns 206,500 shares of the company’s stock worth $10,583,000 after buying an additional 189,900 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Beacon Roofing Supply by 0.8% during the third quarter. Fisher Asset Management LLC now owns 1,686,777 shares of the company’s stock worth $86,447,000 after buying an additional 13,327 shares during the last quarter. Arcadia Investment Management Corp MI lifted its holdings in shares of Beacon Roofing Supply by 1.5% during the third quarter. Arcadia Investment Management Corp MI now owns 119,350 shares of the company’s stock worth $6,117,000 after buying an additional 1,740 shares during the last quarter. Lord Abbett & CO. LLC lifted 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 buying an additional 176,659 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Beacon Roofing Supply during the second quarter worth approximately $312,000. Institutional investors own 90.92% 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.
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