Builders FirstSource, Inc. (BLDR) to Post Q1 2019 Earnings of $1.74 Per Share, Wedbush Forecasts
Builders FirstSource, Inc. (NASDAQ:BLDR) – Equities researchers at Wedbush issued their Q1 2019 earnings per share (EPS) estimates for Builders FirstSource in a research report issued to clients and investors on Friday. Wedbush analyst J. Mccanless forecasts that the company will post earnings per share of $1.74 for the quarter. Wedbush currently has a “Outperform” rating and a $30.00 target price on the stock.
A number of other brokerages also recently issued reports on BLDR. BidaskClub raised Builders FirstSource from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 27th. Seaport Global Securities reaffirmed a “buy” rating and issued a $26.00 target price on shares of Builders FirstSource in a research note on Wednesday, January 3rd. Citigroup raised their target price on Builders FirstSource from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. B. Riley reaffirmed a “buy” rating on shares of Builders FirstSource in a research note on Wednesday, November 1st. Finally, Barclays set a $21.00 target price on Builders FirstSource and gave the stock a “hold” rating in a research note on Sunday, January 7th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Builders FirstSource presently has a consensus rating of “Buy” and an average price target of $22.50.
Builders FirstSource (NASDAQ:BLDR) last issued its earnings results on Wednesday, November 8th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Builders FirstSource had a return on equity of 33.66% and a net margin of 1.29%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis.
In related news, insider M Chad Crow sold 158,384 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $18.24, for a total transaction of $2,888,924.16. Following the completion of the sale, the insider now directly owns 446,248 shares of the company’s stock, valued at approximately $8,139,563.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter M. Jackson sold 12,500 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $20.51, for a total value of $256,375.00. Following the sale, the chief financial officer now directly owns 26,587 shares of the company’s stock, valued at $545,299.37. The disclosure for this sale can be found here. Insiders have sold a total of 377,598 shares of company stock valued at $6,950,025 over the last three months. Corporate insiders own 14.60% of the company’s stock.
Large investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Builders FirstSource during the 3rd quarter worth about $110,000. SG Americas Securities LLC acquired a new position in Builders FirstSource in the 2nd quarter valued at about $114,000. Victory Capital Management Inc. acquired a new position in Builders FirstSource in the 3rd quarter valued at about $147,000. Ameritas Investment Partners Inc. grew its position in Builders FirstSource by 17.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,495 shares of the company’s stock valued at $130,000 after acquiring an additional 1,253 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Builders FirstSource by 10,237.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,580 shares of the company’s stock valued at $131,000 after acquiring an additional 8,497 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.
About Builders FirstSource
Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.
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