Q3 2018 EPS Estimates for Beacon Roofing Supply, Inc. Boosted by Analyst (BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities researchers at Seaport Global Securities increased their Q3 2018 earnings estimates for Beacon Roofing Supply in a research report issued on Friday. Seaport Global Securities analyst M. Mccall now expects that the company will earn $1.35 per share for the quarter, up from their previous estimate of $1.19. Seaport Global Securities also issued estimates for Beacon Roofing Supply’s Q4 2018 earnings at $1.45 EPS.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Thursday, February 8th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.54 by $0.14. Beacon Roofing Supply had a net margin of 3.29% and a return on equity of 10.15%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the company posted $0.56 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis.

Several other brokerages have also recently commented on BECN. BidaskClub cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Jefferies Group reiterated a “buy” rating and issued a $73.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, January 17th. Zacks Investment Research cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Monday, January 22nd. Royal Bank of Canada set a $66.00 target price on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a report on Friday. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $70.00 target price (up from $55.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $59.91.

Beacon Roofing Supply (NASDAQ:BECN) opened at $55.07 on Monday. Beacon Roofing Supply has a fifty-two week low of $39.57 and a fifty-two week high of $66.47. The company 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. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.42.

In other Beacon Roofing Supply news, CEO Paul Isabella sold 40,000 shares of Beacon Roofing Supply stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 172,046 shares in the company, valued at $10,420,826.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ross D. Cooper sold 2,000 shares of Beacon Roofing Supply 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 completion of the sale, the executive vice president now owns 7,056 shares of the company’s stock, valued at $421,596. The disclosure for this sale can be found here. Company insiders own 0.77% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of BECN. Zions Bancorporation acquired a new stake in Beacon Roofing Supply in the third quarter valued at approximately $124,000. Cerebellum GP LLC acquired a new stake in Beacon Roofing Supply in the fourth quarter valued at approximately $130,000. Advisor Group Inc. lifted its stake in Beacon Roofing Supply by 8.9% in the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock valued at $190,000 after acquiring an additional 316 shares during the last quarter. Keybank National Association OH acquired a new stake in Beacon Roofing Supply in the third quarter valued at approximately $210,000. Finally, CAPROCK Group Inc. acquired a new stake in Beacon Roofing Supply in the fourth quarter valued at approximately $212,000.

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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.

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

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