Zacks: Brokerages Anticipate Beacon Roofing Supply, Inc. (BECN) Will Announce Earnings of $0.57 Per Share

Brokerages expect Beacon Roofing Supply, Inc. (NASDAQ:BECN) to announce earnings of $0.57 per share for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Beacon Roofing Supply’s earnings. The highest EPS estimate is $0.62 and the lowest is $0.51. Beacon Roofing Supply reported earnings of $0.68 per share in the same quarter last year, which would suggest a negative year over year growth rate of 16.2%. The firm is expected to announce its next quarterly earnings report on Thursday, February 14th.

According to Zacks, analysts expect that Beacon Roofing Supply will report full-year earnings of $3.14 per share for the current fiscal year, with EPS estimates ranging from $2.86 to $3.81. For the next fiscal year, analysts forecast that the company will report earnings of $3.46 per share, with EPS estimates ranging from $3.23 to $3.83. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Beacon Roofing Supply.

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

BECN has been the subject of a number of research reports. Robert W. Baird cut shares of 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. Longbow Research reissued a “buy” rating on shares of Beacon Roofing Supply in a research note on Monday, September 24th. Wedbush reissued an “outperform” rating and set a $50.00 target price on shares of Beacon Roofing Supply in a research note on Thursday, August 23rd. William Blair cut shares of Beacon Roofing Supply from an “outperform” rating to a “market perform” rating and set a $33.00 target price for the company. in a research note on Monday, October 8th. Finally, BidaskClub cut shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $41.13.

In other Beacon Roofing Supply news, CEO Paul Isabella acquired 3,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The stock was bought at an average price of $31.76 per share, with a total value of $101,632.00. Following the purchase, the chief executive officer now owns 143,459 shares in the company, valued at $4,556,257.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher Anthony Harrison acquired 4,750 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The shares were acquired at an average cost of $31.40 per share, with a total value of $149,150.00. Following the purchase, the executive vice president now owns 19,280 shares in the company, valued at approximately $605,392. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 23,625 shares of company stock valued at $753,469. 0.77% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of BECN. Allianz Asset Management GmbH purchased a new stake in shares of Beacon Roofing Supply in the 1st quarter valued at approximately $455,000. Bank of Montreal Can grew its stake in shares of Beacon Roofing Supply by 18.2% in the 2nd quarter. Bank of Montreal Can now owns 20,667 shares of the company’s stock valued at $879,000 after buying an additional 3,179 shares during the period. Eqis Capital Management Inc. purchased a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $261,000. Supplemental Annuity Collective Trust of NJ purchased a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $426,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $481,000.

Shares of BECN stock traded down $0.05 on Friday, reaching $34.86. 1,160,984 shares of the company were exchanged, compared to its average volume of 1,668,957. The stock has a market capitalization of $2.38 billion, a P/E ratio of 12.91, a P/E/G ratio of 0.58 and a beta of 1.44. The company has a quick ratio of 0.97, a current ratio of 1.59 and a debt-to-equity ratio of 1.38. Beacon Roofing Supply has a 1 year low of $24.97 and a 1 year high of $66.47.

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 solar systems.

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