Beacon Roofing Supply (NASDAQ:BECN) Issues Q2 2021 Earnings Guidance


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Beacon Roofing Supply (NASDAQ:BECN) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided EPS guidance of – for the period. The company issued revenue guidance of $1.31 billion-$1.32 billion, compared to the consensus revenue estimate of $1.31 billion.

Beacon Roofing Supply stock traded up $0.08 during trading hours on Tuesday, reaching $57.32. 11,030 shares of the stock were exchanged, compared to its average volume of 401,982. The company has a market cap of $3.98 billion, a P/E ratio of -34.69 and a beta of 1.97. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 1.56. Beacon Roofing Supply has a twelve month low of $17.05 and a twelve month high of $57.78. The stock has a 50 day moving average of $54.40 and a two-hundred day moving average of $44.20.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Sunday, February 7th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.55. Beacon Roofing Supply had a negative net margin of 1.16% and a positive return on equity of 10.89%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts expect that Beacon Roofing Supply will post 2.97 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on BECN. Royal Bank of Canada upgraded shares of Beacon Roofing Supply from an underperform rating to a sector perform rating and raised their price target for the company from $37.00 to $48.00 in a research note on Tuesday, February 9th. Longbow Research upgraded shares of Beacon Roofing Supply from a neutral rating to a buy rating and set a $60.00 price target on the stock in a research note on Tuesday, January 26th. Northcoast Research restated a neutral rating on shares of Beacon Roofing Supply in a research note on Wednesday, April 21st. Robert W. Baird lifted their target price on shares of Beacon Roofing Supply from $55.00 to $57.00 and gave the stock an outperform rating in a research report on Tuesday, April 20th. Finally, Zacks Investment Research downgraded shares of Beacon Roofing Supply from a buy rating to a hold rating and set a $45.00 target price on the stock. in a research report on Friday, January 22nd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $47.69.

In other Beacon Roofing Supply news, EVP Christopher Anthony Harrison sold 20,415 shares of the firm’s stock in a transaction that occurred on Wednesday, February 10th. The shares were sold at an average price of $45.33, for a total transaction of $925,411.95. Following the completion of the transaction, the executive vice president now owns 39,194 shares in the company, valued at approximately $1,776,664.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Cd&R Investment Associates Ix, purchased 563,611 shares of the stock in a transaction on Thursday, April 29th. The shares were purchased at an average price of $53.23 per share, with a total value of $30,001,013.53. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 76,520 shares of company stock valued at $3,660,984. Company insiders own 1.40% of the company’s stock.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, and retailers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.

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

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