Beacon Roofing Supply, Inc. (BECN) Expected to Announce Quarterly Sales of $1.43 Billion

Wall Street analysts predict that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will report $1.43 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Beacon Roofing Supply’s earnings, with estimates ranging from $1.34 billion to $1.47 billion. Beacon Roofing Supply reported sales of $870.72 million during the same quarter last year, which indicates a positive year-over-year growth rate of 64.2%. The company is expected to issue its next earnings report on Thursday, May 3rd.

According to Zacks, analysts expect that Beacon Roofing Supply will report full-year sales of $1.43 billion for the current year, with estimates ranging from $6.72 billion to $6.82 billion. For the next financial year, analysts expect that the firm will report sales of $7.66 billion per share, with estimates ranging from $7.42 billion to $7.82 billion. Zacks Investment Research’s sales averages are an 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 Thursday, February 8th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.14. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Beacon Roofing Supply had a net margin of 3.29% and a return on equity of 10.15%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share.

Several analysts have weighed in on BECN shares. SunTrust Banks reaffirmed a “buy” rating and set a $55.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price objective (up from $62.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. BidaskClub cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Wells Fargo & Co started coverage on shares of Beacon Roofing Supply in a research note on Wednesday, October 18th. They set a “market perform” rating and a $58.00 price target on the stock. Finally, Zacks Investment Research cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Beacon Roofing Supply has a consensus rating of “Buy” and a consensus target price of $59.91.

In other news, EVP Ross D. Cooper sold 2,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 7,056 shares of the company’s stock, valued at $421,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul Isabella sold 40,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the sale, the chief executive officer now directly owns 172,046 shares in the company, valued at $10,420,826.22. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BECN. Jennison Associates LLC lifted its holdings in Beacon Roofing Supply by 502.2% in the third quarter. Jennison Associates LLC now owns 1,683,096 shares of the company’s stock valued at $86,259,000 after buying an additional 1,403,608 shares during the period. TimesSquare Capital Management LLC lifted its holdings in Beacon Roofing Supply by 108.4% in the third quarter. TimesSquare Capital Management LLC now owns 2,362,015 shares of the company’s stock valued at $121,053,000 after buying an additional 1,228,625 shares during the period. Bamco Inc. NY acquired a new position in Beacon Roofing Supply in the third quarter valued at approximately $61,982,000. Baird Financial Group Inc. acquired a new position in Beacon Roofing Supply in the fourth quarter valued at approximately $41,928,000. Finally, Stephens Investment Management Group LLC acquired a new position in Beacon Roofing Supply in the third quarter valued at approximately $32,333,000.

Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at $55.07 on Monday. 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 cap of $3,743.05, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.14 and a beta of 1.35. Beacon Roofing Supply has a 52 week low of $39.57 and a 52 week high of $66.47.

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

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