Beacon Roofing Supply, Inc. to Post Q1 2018 Earnings of $0.59 Per Share, Northcoast Research Forecasts (BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Northcoast Research lifted their Q1 2018 EPS estimates for shares of Beacon Roofing Supply in a research note issued on Tuesday. Northcoast Research analyst K. Hocevar now forecasts that the company will post earnings of $0.59 per share for the quarter, up from their prior estimate of $0.52. Northcoast Research has a “Buy” rating and a $53.00 price objective on the stock.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Monday, November 20th. The company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). Beacon Roofing Supply had a return on equity of 9.78% and a net margin of 2.30%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company earned $0.88 EPS. Beacon Roofing Supply’s revenue for the quarter was up 9.8% on a year-over-year basis.

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Several 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, August 2nd. Royal Bank Of Canada dropped their price target on Beacon Roofing Supply from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Jefferies Group LLC raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and upped their price target for the stock from $50.00 to $54.00 in a research note on Friday, August 25th. KeyCorp raised Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research note on Friday, August 25th. Finally, Citigroup Inc. upped their price target on Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, August 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.75.

Shares of Beacon Roofing Supply (NASDAQ:BECN) traded up $0.38 during trading on Thursday, hitting $59.36. The company had a trading volume of 1,148,900 shares, compared to its average volume of 508,408. Beacon Roofing Supply has a 52 week low of $39.57 and a 52 week high of $60.61. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.86. The company has a market cap of $3,994.98, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 2.66 and a beta of 1.45.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of Beacon Roofing Supply by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 1,061,255 shares of the company’s stock valued at $51,999,000 after acquiring an additional 22,749 shares during the last quarter. BlackRock Inc. increased its position in shares of Beacon Roofing Supply by 1.2% during the second quarter. BlackRock Inc. now owns 4,069,752 shares of the company’s stock valued at $199,416,000 after acquiring an additional 47,779 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Beacon Roofing Supply by 10.4% during the second quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after acquiring an additional 176,659 shares during the last quarter. Swiss National Bank increased its position in shares of Beacon Roofing Supply by 19.8% during the second quarter. Swiss National Bank now owns 100,000 shares of the company’s stock valued at $4,900,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Beacon Roofing Supply during the second quarter valued at approximately $533,000. 97.28% of the stock is owned by institutional investors.

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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