Seaport Global Securities Research Analysts Increase Earnings Estimates for Beacon Roofing Supply, Inc. (BECN)
Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Seaport Global Securities increased their Q1 2018 earnings per share estimates for Beacon Roofing Supply in a research report issued on Tuesday. Seaport Global Securities analyst M. Mccall now expects that the company will post earnings per share of $0.54 for the quarter, up from their prior estimate of $0.53. Seaport Global Securities also issued estimates for Beacon Roofing Supply’s Q3 2018 earnings at $1.06 EPS, Q4 2018 earnings at $1.17 EPS, FY2018 earnings at $2.85 EPS and FY2019 earnings at $3.15 EPS.
Several other equities research analysts have also recently issued reports on the stock. Citigroup Inc. raised their price target on shares of Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, August 28th. KeyCorp upgraded shares of Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price objective on the stock in a report on Friday, August 25th. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price objective on the stock in a report on Tuesday, October 3rd. Wells Fargo & Company assumed coverage on shares of Beacon Roofing Supply in a report on Wednesday, October 18th. They set a “market perform” rating and a $58.00 price objective on the stock. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $55.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Beacon Roofing Supply presently has a consensus rating of “Hold” and an average price target of $55.75.
Beacon Roofing Supply (NASDAQ BECN) traded up $0.38 during trading on Thursday, hitting $59.36. 1,148,900 shares of the company’s stock traded hands, compared to its average volume of 508,408. Beacon Roofing Supply has a one year low of $39.57 and a one year high of $60.61. The firm has a market cap of $3,994.98, a PE ratio of 27.18, a P/E/G ratio of 2.66 and a beta of 1.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.30 and a quick ratio of 1.36.
Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Monday, November 20th. The company reported $0.93 EPS for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.01). Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.78%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company posted $0.88 earnings per share. Beacon Roofing Supply’s revenue was up 9.8% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Beacon Roofing Supply in the second quarter valued at approximately $100,000. Advisors Asset Management Inc. raised its holdings in Beacon Roofing Supply by 36.7% in the second quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock valued at $103,000 after buying an additional 565 shares during the period. Zions Bancorporation purchased a new position in Beacon Roofing Supply in the third quarter valued at approximately $124,000. Huntington National Bank raised its holdings in Beacon Roofing Supply by 3.8% in the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock valued at $154,000 after buying an additional 116 shares during the period. Finally, Lloyds Banking Group plc raised its holdings in Beacon Roofing Supply by 37.7% in the second quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock valued at $180,000 after buying an additional 1,012 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.
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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