Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities researchers at William Blair upped their Q2 2019 EPS estimates for Beacon Roofing Supply in a research note issued on Tuesday, January 8th. William Blair analyst R. Merkel now forecasts that the company will earn ($0.24) per share for the quarter, up from their previous estimate of ($0.38). William Blair currently has a “Market Perform” rating and a $33.00 target price on the stock. William Blair also issued estimates for Beacon Roofing Supply’s Q3 2019 earnings at $1.34 EPS and Q4 2019 earnings at $1.35 EPS.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Monday, November 19th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.29). The company had revenue of $1.94 billion for 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 firm’s quarterly revenue was up 50.4% on a year-over-year basis. During the same quarter last year, the company posted $0.93 earnings per share.
Shares of NASDAQ:BECN opened at $34.16 on Thursday. The firm has a market cap of $2.37 billion, a PE ratio of 12.65, a P/E/G ratio of 0.59 and a beta of 1.37. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.59 and a quick ratio of 0.97. Beacon Roofing Supply has a 52-week low of $24.97 and a 52-week high of $63.92.
In related news, Director Richard W. Frost acquired 10,675 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The stock was acquired at an average cost of $31.61 per share, for a total transaction of $337,436.75. Following the completion of the acquisition, the director now directly owns 22,495 shares of the company’s stock, valued at approximately $711,066.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher Anthony Harrison acquired 4,750 shares of the firm’s stock in a transaction that occurred 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 valued at $753,469 over the last 90 days. 0.77% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Csenge Advisory Group bought a new stake in Beacon Roofing Supply during the third quarter valued at $27,000. Paradigm Asset Management Co. LLC bought a new stake in Beacon Roofing Supply during the third quarter valued at $51,000. Jane Street Group LLC bought a new stake in Beacon Roofing Supply during the second quarter valued at $226,000. Cim Investment Mangement Inc. bought a new stake in Beacon Roofing Supply during the third quarter valued at $205,000. Finally, Commonwealth Bank of Australia bought a new stake in Beacon Roofing Supply during the third quarter valued at $303,000.
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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