Brokers Set Expectations for Beacon Roofing Supply, Inc.’s FY2018 Earnings (BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Analysts at Wedbush boosted their FY2018 EPS estimates for shares of Beacon Roofing Supply in a research report issued to clients and investors on Tuesday. Wedbush analyst J. Mccanless now forecasts that the company will post earnings of $3.62 per share for the year, up from their previous forecast of $3.33. Wedbush currently has a “Outperform” rating and a $52.00 price target on the stock.

A number of other equities research analysts have also commented on BECN. BidaskClub lowered Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Citigroup decreased their price objective on Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Royal Bank of Canada set a $66.00 price objective on Beacon Roofing Supply and gave the stock a “buy” rating in a research report on Friday, February 9th. Robert W. Baird restated an “outperform” rating and set a $70.00 price objective (up from $55.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. Finally, Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $60.45.

Shares of Beacon Roofing Supply (NASDAQ BECN) traded down $0.16 during midday trading on Wednesday, reaching $54.43. The company’s stock had a trading volume of 1,556,100 shares, compared to its average volume of 767,822. Beacon Roofing Supply has a 12-month low of $39.57 and a 12-month high of $66.47. The firm has a market cap of $3,712.73, a price-to-earnings ratio of 23.87, a PEG ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.06 and a quick ratio of 1.35.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Beacon Roofing Supply by 8.5% in the 4th quarter. BlackRock Inc. now owns 4,740,160 shares of the company’s stock worth $302,231,000 after purchasing an additional 369,588 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Beacon Roofing Supply by 3.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,505,823 shares of the company’s stock worth $128,424,000 after purchasing an additional 93,832 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in Beacon Roofing Supply by 108.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 2,362,015 shares of the company’s stock worth $121,053,000 after purchasing an additional 1,228,625 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in Beacon Roofing Supply by 10.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock worth $91,807,000 after purchasing an additional 176,659 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in Beacon Roofing Supply by 8.9% in the 4th quarter. Jennison Associates LLC now owns 1,833,247 shares of the company’s stock worth $116,888,000 after purchasing an additional 150,151 shares during the last quarter. Hedge funds and other institutional investors own 99.69% of the company’s stock.

In other news, EVP Ross D. Cooper sold 2,000 shares of Beacon Roofing Supply stock in a transaction dated Tuesday, November 21st. The stock was 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 directly owns 7,056 shares in the company, valued at approximately $421,596. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was 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 owns 172,046 shares of the company’s stock, valued at $10,420,826.22. The disclosure for this sale can be found here. 0.77% of the stock is owned by insiders.

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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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