$1.26 Billion in Sales Expected for Beacon Roofing Supply, Inc. (BECN) This Quarter
Equities analysts expect that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will post $1.26 billion in sales for the current quarter, according to Zacks. Ten analysts have made estimates for Beacon Roofing Supply’s earnings, with the lowest sales estimate coming in at $1.23 billion and the highest estimate coming in at $1.28 billion. Beacon Roofing Supply posted sales of $1.17 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.7%. The company is scheduled to announce its next quarterly earnings report on Monday, November 20th.
According to Zacks, analysts expect that Beacon Roofing Supply will report full-year sales of $1.26 billion for the current year, with estimates ranging from $4.32 billion to $4.37 billion. For the next year, analysts anticipate that the firm will post sales of $4.62 billion per share, with estimates ranging from $4.57 billion to $4.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data 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 firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share.
BECN has been the topic of a number of research analyst reports. Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $58.00 price target on shares of Beacon Roofing Supply in a research note on Monday, July 24th. BidaskClub lowered Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Jefferies Group LLC raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and lifted their price target for the stock from $50.00 to $54.00 in a research note on Friday, August 25th. Finally, KeyCorp raised Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Beacon Roofing Supply currently has a consensus rating of “Hold” and an average target price of $53.17.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Beacon Roofing Supply during the second quarter worth $100,000. Advisors Asset Management Inc. boosted its stake in Beacon Roofing Supply by 36.7% during the second quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock worth $103,000 after buying an additional 565 shares during the last quarter. Huntington National Bank boosted its stake in Beacon Roofing Supply by 3.8% during the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock worth $154,000 after buying an additional 116 shares during the last quarter. Lloyds Banking Group plc boosted its stake in Beacon Roofing Supply by 37.7% during the second quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock worth $180,000 after buying an additional 1,012 shares during the last quarter. Finally, Advisor Group Inc. boosted its stake in Beacon Roofing Supply by 8.9% during the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after buying an additional 316 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors.
Shares of Beacon Roofing Supply (BECN) opened at 54.92 on Friday. The stock has a market capitalization of $3.32 billion, a PE ratio of 32.61 and a beta of 1.32. Beacon Roofing Supply has a one year low of $39.57 and a one year high of $56.36. The stock’s 50 day moving average price is $51.37 and its 200 day moving average price is $48.51.
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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