Beacon Roofing Supply, Inc. (BECN) Expected to Post Quarterly Sales of $1.66 Billion

Analysts forecast that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will report $1.66 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Beacon Roofing Supply’s earnings. The highest sales estimate is $1.73 billion and the lowest is $1.53 billion. Beacon Roofing Supply reported sales of $1.12 billion during the same quarter last year, which indicates a positive year over year growth rate of 48.2%. The company is expected to issue its next quarterly earnings results on Thursday, February 14th.

According to Zacks, analysts expect that Beacon Roofing Supply will report full-year sales of $7.13 billion for the current fiscal year, with estimates ranging from $7.02 billion to $7.19 billion. For the next year, analysts expect that the business will report sales of $7.38 billion, with estimates ranging from $7.17 billion to $7.54 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Beacon Roofing Supply.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Monday, November 19th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.29). Beacon Roofing Supply had a net margin of 1.54% and a return on equity of 11.23%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the business posted $0.93 earnings per share. The firm’s quarterly revenue was up 50.4% compared to the same quarter last year.

BECN has been the topic of a number of recent research reports. Wells Fargo & Co cut Beacon Roofing Supply from a “market perform” rating to an “underperform” rating and set a $58.00 price objective on the stock. in a research note on Wednesday, August 8th. Wedbush reissued an “outperform” rating and issued a $50.00 target price on shares of Beacon Roofing Supply in a research note on Thursday, August 23rd. Longbow Research reissued a “buy” rating on shares of Beacon Roofing Supply in a research note on Monday, September 24th. Robert W. Baird cut Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $37.00 in a research note on Tuesday, October 2nd. Finally, Citigroup cut Beacon Roofing Supply from a “buy” rating to a “neutral” rating and cut their target price for the stock from $51.00 to $44.00 in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Beacon Roofing Supply has a consensus rating of “Hold” and a consensus price target of $41.13.

In related news, Director Carl T. Berquist acquired 5,000 shares of the stock in a transaction on Monday, November 26th. The stock was acquired at an average cost of $33.05 per share, for a total transaction of $165,250.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $330,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher Anthony Harrison acquired 4,750 shares of the stock in a transaction on Wednesday, November 21st. The stock was bought at an average price of $31.40 per share, with a total value of $149,150.00. Following the completion of the acquisition, the executive vice president now directly owns 19,280 shares of the company’s stock, valued at $605,392. The disclosure for this purchase can be found here. Insiders purchased 23,625 shares of company stock worth $753,469 over the last three months. 0.77% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in Beacon Roofing Supply in the second quarter worth about $226,000. Cim Investment Mangement Inc. purchased a new stake in Beacon Roofing Supply in the third quarter worth about $205,000. Eqis Capital Management Inc. purchased a new stake in Beacon Roofing Supply in the second quarter worth about $261,000. CIBC World Markets Inc. purchased a new stake in Beacon Roofing Supply in the second quarter worth about $277,000. Finally, Greenwood Capital Associates LLC lifted its holdings in Beacon Roofing Supply by 32.4% in the second quarter. Greenwood Capital Associates LLC now owns 6,599 shares of the company’s stock worth $281,000 after buying an additional 1,613 shares during the period.

Shares of NASDAQ:BECN traded down $0.10 on Tuesday, reaching $34.81. 84,810 shares of the company traded hands, compared to its average volume of 1,657,575. Beacon Roofing Supply has a 52 week low of $24.97 and a 52 week high of $66.47. The stock has a market capitalization of $2.35 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 0.58 and a beta of 1.44. The company has a current ratio of 1.59, a quick ratio of 0.97 and a debt-to-equity ratio of 1.38.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. 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 other accessories.

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

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