Beacon Roofing Supply, Inc. to Post Q3 2018 Earnings of $1.32 Per Share, Northcoast Research Forecasts (BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Stock analysts at Northcoast Research lifted their Q3 2018 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a research note issued to investors on Monday. Northcoast Research analyst K. Hocevar now expects that the company will post earnings per share of $1.32 for the quarter, up from their prior estimate of $1.12. Northcoast Research also issued estimates for Beacon Roofing Supply’s Q4 2018 earnings at $1.51 EPS.

A number of other analysts have also recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $52.00 target price (down previously from $70.00) on shares of Beacon Roofing Supply in a research note on Tuesday. 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 research note on Friday. Citigroup reduced their price objective on shares of Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday. BidaskClub cut shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Finally, Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Beacon Roofing Supply presently has a consensus rating of “Buy” and a consensus target price of $60.45.

Beacon Roofing Supply (BECN) traded down $0.48 during midday trading on Tuesday, hitting $54.59. 2,223,900 shares of the company’s stock were exchanged, compared to its average volume of 740,867. The company has a market capitalization of $3,745.38, a PE ratio of 23.94, a PEG ratio of 1.03 and a beta of 1.35. Beacon Roofing Supply has a 12-month low of $39.57 and a 12-month high of $66.47. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, February 8th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share.

A number of institutional investors and hedge funds have recently modified their holdings of the business. 1st Global Advisors Inc. boosted its position in Beacon Roofing Supply by 0.8% during the second quarter. 1st Global Advisors Inc. now owns 9,836 shares of the company’s stock valued at $482,000 after acquiring an additional 76 shares during the last quarter. Advisor Group Inc. boosted its position in Beacon Roofing Supply by 8.9% during 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. UBS Asset Management Americas Inc. boosted its position in Beacon Roofing Supply by 1.4% during the second quarter. UBS Asset Management Americas Inc. now owns 29,235 shares of the company’s stock valued at $1,433,000 after acquiring an additional 395 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Beacon Roofing Supply by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 46,427 shares of the company’s stock valued at $2,275,000 after acquiring an additional 517 shares during the last quarter. Finally, Lisanti Capital Growth LLC boosted its position in Beacon Roofing Supply by 2.6% during the fourth quarter. Lisanti Capital Growth LLC now owns 48,305 shares of the company’s stock valued at $3,080,000 after acquiring an additional 1,220 shares during the last quarter. 99.69% of the stock is currently owned by institutional investors and hedge funds.

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

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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.

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

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