Seaport Global Securities Weighs in on Beacon Roofing Supply, Inc.’s Q1 2018 Earnings (BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Seaport Global Securities decreased their Q1 2018 EPS estimates for shares of Beacon Roofing Supply in a report issued on Thursday. Seaport Global Securities analyst M. Mccall now anticipates that the company will earn $0.51 per share for the quarter, down from their previous forecast of $0.54. Seaport Global Securities also issued estimates for Beacon Roofing Supply’s Q2 2018 earnings at $0.01 EPS, Q3 2018 earnings at $1.19 EPS, Q4 2018 earnings at $1.28 EPS, FY2018 earnings at $3.10 EPS and FY2019 earnings at $4.10 EPS.

BECN has been the topic of several other reports. SunTrust Banks restated a “buy” rating and set a $55.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, October 2nd. KeyCorp restated a “buy” rating and set a $56.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. 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. BidaskClub downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Finally, Wells Fargo & Co began coverage on shares of Beacon Roofing Supply in a report on Wednesday, October 18th. They issued a “market perform” rating and a $58.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $56.91.

Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at $64.49 on Monday. The company has a market cap of $4,368.20, a price-to-earnings ratio of 39.56, a PEG ratio of 0.82 and a beta of 1.49. 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 0.42, a quick ratio of 1.35 and a current ratio of 2.06.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Monday, November 20th. The company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share.

Large investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of Beacon Roofing Supply in the 2nd quarter worth $100,000. Advisors Asset Management Inc. grew its stake in shares of Beacon Roofing Supply by 36.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock worth $103,000 after buying an additional 565 shares in the last quarter. Zions Bancorporation purchased a new position in shares of Beacon Roofing Supply in the 3rd quarter worth $124,000. Advisor Group Inc. grew its stake in shares of 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 in the last quarter. Finally, Keybank National Association OH purchased a new position in shares of Beacon Roofing Supply in the 3rd quarter worth $210,000.

In other Beacon Roofing Supply news, EVP Ross D. Cooper sold 2,000 shares of Beacon Roofing Supply stock in a transaction on Tuesday, November 21st. The shares were 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 approximately $421,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul Isabella sold 40,000 shares of Beacon Roofing Supply stock in a transaction on Monday, November 27th. The stock was sold at an average price of $60.57, for a total transaction 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. Insiders own 0.75% of the company’s stock.

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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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