Jefferies Group Research Analysts Lift Earnings Estimates for Beacon Roofing Supply, Inc. (BECN)
Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Investment analysts at Jefferies Group increased their Q1 2018 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a note issued to investors on Wednesday. Jefferies Group analyst P. Ng now expects that the company will earn $0.60 per share for the quarter, up from their prior forecast of $0.42. Jefferies Group has a “Buy” rating and a $73.00 price target on the stock. Jefferies Group also issued estimates for Beacon Roofing Supply’s Q2 2018 earnings at ($0.10) EPS and FY2018 earnings at $3.54 EPS.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Monday, November 20th. The company reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). Beacon Roofing Supply had a return on equity of 9.09% and a net margin of 2.30%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year.
Beacon Roofing Supply (NASDAQ BECN) traded down $0.90 on Friday, hitting $62.59. 604,900 shares of the stock traded hands, compared to its average volume of 698,958. Beacon Roofing Supply has a 52 week low of $39.57 and a 52 week high of $66.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06. The firm has a market capitalization of $4,315.34, a PE ratio of 38.40, a PEG ratio of 1.34 and a beta of 1.49.
In other Beacon Roofing Supply news, CEO Paul Isabella sold 40,000 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $60.57, for a total value of $2,422,800.00. Following the transaction, the chief executive officer now directly owns 172,046 shares of the company’s stock, valued at $10,420,826.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total transaction of $119,500.00. Following the completion of the transaction, the executive vice president now directly owns 7,056 shares in the company, valued at $421,596. The disclosure for this sale can be found here. Company insiders own 0.77% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. bought a new position in shares of Beacon Roofing Supply in the fourth quarter valued at $535,000. Acadian Asset Management LLC bought a new position in shares of Beacon Roofing Supply in the fourth quarter valued at $4,684,000. CAPROCK Group Inc. bought a new position in shares of Beacon Roofing Supply in the fourth quarter valued at $212,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Beacon Roofing Supply by 13.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 457,222 shares of the company’s stock valued at $29,153,000 after buying an additional 55,211 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Beacon Roofing Supply by 18.2% during the fourth quarter. Bank of Montreal Can now owns 13,578 shares of the company’s stock valued at $866,000 after purchasing an additional 2,090 shares in the last quarter.
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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