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

Brokerages expect that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will post sales of $1.66 billion for the current quarter, according to Zacks. Nine analysts have made estimates for Beacon Roofing Supply’s earnings, with estimates ranging from $1.53 billion to $1.73 billion. Beacon Roofing Supply posted sales of $1.12 billion during the same quarter last year, which suggests a positive year over year growth rate of 48.2%. The business is expected to issue its next quarterly earnings results on Thursday, February 14th.

On average, analysts expect that Beacon Roofing Supply will report full-year sales of $7.13 billion for the current year, with estimates ranging from $7.02 billion to $7.19 billion. For the next financial year, analysts forecast that the business will post sales of $7.38 billion, with estimates ranging from $7.17 billion to $7.54 billion. Zacks Investment Research’s 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 posted 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). Beacon Roofing Supply had a return on equity of 11.23% and a net margin of 1.54%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The company’s revenue for the quarter was up 50.4% on a year-over-year basis.

Several research analysts have weighed in on the stock. Longbow Research restated a “buy” rating on shares of Beacon Roofing Supply in a research report on Monday, September 24th. Robert W. Baird lowered shares of Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $37.00 in a research report on Tuesday, October 2nd. BidaskClub lowered shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Wells Fargo & Co upgraded shares of Beacon Roofing Supply from an “underperform” rating to a “market perform” rating and set a $32.00 target price on the stock in a research report on Wednesday, November 21st. Finally, William Blair lowered shares of Beacon Roofing Supply from an “outperform” rating to a “market perform” rating and set a $33.00 target price on the stock. in a research report on Monday, October 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $41.13.

BECN traded up $0.52 on Friday, hitting $33.78. 664,100 shares of the company were exchanged, compared to its average volume of 820,958. The company has a current ratio of 1.59, a quick ratio of 0.97 and a debt-to-equity ratio of 1.38. Beacon Roofing Supply has a fifty-two week low of $24.97 and a fifty-two week high of $63.59. The firm has a market capitalization of $2.32 billion, a P/E ratio of 12.51, a PEG ratio of 0.58 and a beta of 1.37.

In other news, Director Richard W. Frost bought 10,675 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The shares were purchased at an average price of $31.61 per share, for a total transaction of $337,436.75. Following the completion of the transaction, the director now owns 22,495 shares in the company, valued at $711,066.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher Anthony Harrison bought 4,750 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The shares were purchased at an average price of $31.40 per share, for a total transaction of $149,150.00. Following the transaction, the executive vice president now owns 19,280 shares of the company’s stock, valued at approximately $605,392. The disclosure for this purchase can be found here. Insiders bought 23,625 shares of company stock worth $753,469 over the last quarter. Company insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Csenge Advisory Group acquired a new stake in Beacon Roofing Supply during the third quarter worth approximately $27,000. Paradigm Asset Management Co. LLC purchased a new position in Beacon Roofing Supply during the third quarter worth approximately $51,000. Jane Street Group LLC purchased a new position in Beacon Roofing Supply during the second quarter worth approximately $226,000. Cim Investment Mangement Inc. purchased a new position in Beacon Roofing Supply during the third quarter worth approximately $205,000. Finally, Virtu Financial LLC purchased a new position in Beacon Roofing Supply during the fourth quarter worth approximately $242,000.

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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