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.

TRADEMARK VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/10/28/1-26-billion-in-sales-expected-for-beacon-roofing-supply-inc-becn-this-quarter.html.

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.

Get a free copy of the Zacks research report on Beacon Roofing Supply (BECN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Beacon Roofing Supply (NASDAQ:BECN)

Receive News & Ratings for Beacon Roofing Supply Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply Inc. and related companies with MarketBeat.com's FREE daily email newsletter.