Wedbush Weighs in on Beacon Roofing Supply, Inc.’s Q2 2018 Earnings (BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Stock analysts at Wedbush issued their Q2 2018 earnings estimates for Beacon Roofing Supply in a research report issued on Tuesday. Wedbush analyst J. Mccanless forecasts that the company will post earnings of ($0.06) per share for the quarter. Wedbush has a “Outperform” rating and a $52.00 price objective on the stock. Wedbush also issued estimates for Beacon Roofing Supply’s Q3 2018 earnings at $1.35 EPS, Q4 2018 earnings at $1.52 EPS, Q1 2019 earnings at $0.90 EPS, Q2 2019 earnings at $0.07 EPS, Q3 2019 earnings at $1.65 EPS, Q4 2019 earnings at $1.87 EPS and FY2019 earnings at $4.49 EPS.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly 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. Beacon Roofing Supply had a return on equity of 9.60% and a net margin of 3.29%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis.

A number of other research analysts also recently weighed in on the company. BidaskClub downgraded Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Royal Bank of Canada set a $66.00 price target on Beacon Roofing Supply and gave the stock a “buy” rating in a research note on Friday, February 9th. Citigroup lowered their price objective on Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Tuesday, January 23rd. Finally, Jefferies Group reissued a “buy” rating and set a $73.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $60.45.

Beacon Roofing Supply (NASDAQ:BECN) opened at $54.14 on Thursday. Beacon Roofing Supply has a 52 week low of $39.57 and a 52 week high of $66.47. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.35 and a current ratio of 4.60. The firm has a market capitalization of $3,701.85, a P/E ratio of 22.58, a P/E/G ratio of 0.81 and a beta of 1.35.

Institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of Beacon Roofing Supply by 9.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 402,011 shares of the company’s stock worth $20,604,000 after acquiring an additional 35,141 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Beacon Roofing Supply during the second quarter valued at $312,000. Point72 Asset Management L.P. bought a new stake in Beacon Roofing Supply during the third quarter valued at $9,688,000. Skylands Capital LLC boosted its stake in Beacon Roofing Supply by 1,144.0% during the third quarter. Skylands Capital LLC now owns 206,500 shares of the company’s stock valued at $10,583,000 after buying an additional 189,900 shares during the period. Finally, Bamco Inc. NY bought a new stake in Beacon Roofing Supply during the third quarter valued at $61,982,000. 99.69% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paul Isabella sold 40,000 shares of the firm’s stock in a transaction 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 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 company 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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