Q2 2018 Earnings Estimate for Beacon Roofing Supply, Inc. Issued By Northcoast Research (BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities research analysts at Northcoast Research cut their Q2 2018 earnings per share (EPS) estimates for Beacon Roofing Supply in a research note issued on Monday. Northcoast Research analyst K. Hocevar now expects that the company will earn ($0.11) per share for the quarter, down from their previous estimate of ($0.02). Northcoast Research also issued estimates for Beacon Roofing Supply’s FY2018 earnings at $3.55 EPS and FY2019 earnings at $4.65 EPS.

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.

Other equities research analysts have also issued reports about the company. BidaskClub lowered Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Wedbush upgraded Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $52.00 to $70.00 in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price objective (up from $62.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. Zacks Investment Research lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, Jefferies Group restated a “buy” rating and set a $73.00 price objective on shares of Beacon Roofing Supply in a research report on Wednesday, January 17th. One research 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 has a consensus rating of “Buy” and a consensus target price of $60.45.

Shares of Beacon Roofing Supply (BECN) opened at $54.43 on Wednesday. Beacon Roofing Supply has a 1 year low of $39.57 and a 1 year high of $66.47. The company has a market capitalization of $3,712.73, a PE ratio of 23.87, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06.

Hedge funds and other institutional investors have recently modified their holdings of the business. Zions Bancorporation bought a new position in Beacon Roofing Supply in the 3rd quarter worth approximately $124,000. Cerebellum GP LLC bought a new position in Beacon Roofing Supply in the 4th quarter worth approximately $130,000. Advisor Group Inc. increased its position in Beacon Roofing Supply by 8.9% in the 2nd quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after buying an additional 316 shares during the period. Keybank National Association OH bought a new position in Beacon Roofing Supply in the 3rd quarter worth approximately $210,000. Finally, CAPROCK Group Inc. bought a new position in Beacon Roofing Supply in the 4th quarter worth approximately $212,000. 99.69% of the stock is currently owned by institutional investors.

In other Beacon Roofing Supply news, EVP Ross D. Cooper sold 2,000 shares of Beacon Roofing Supply stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total value of $119,500.00. Following the transaction, the executive vice president now directly owns 7,056 shares of the company’s stock, valued at approximately $421,596. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Paul Isabella sold 40,000 shares of Beacon Roofing Supply 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 transaction, 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 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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