Beacon Roofing Supply, Inc. to Post FY2020 Earnings of $3.45 Per Share, Northcoast Research Forecasts (BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Northcoast Research upped their FY2020 EPS estimates for Beacon Roofing Supply in a research report issued on Monday, February 11th. Northcoast Research analyst K. Hocevar now anticipates that the company will post earnings of $3.45 per share for the year, up from their prior estimate of $3.35.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 7th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Beacon Roofing Supply had a net margin of 0.43% and a return on equity of 11.25%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the business earned $0.68 EPS. The firm’s revenue was up 53.5% on a year-over-year basis.

Other analysts have also issued reports about the stock. Raymond James set a $45.00 target price on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research report on Thursday, October 25th. Seaport Global Securities set a $34.00 target price on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research report on Tuesday, November 20th. SunTrust Banks decreased their target price on shares of Beacon Roofing Supply to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, November 20th. Stephens reiterated a “buy” rating and set a $40.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 23rd. Finally, BidaskClub upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $40.44.

Shares of Beacon Roofing Supply stock opened at $36.02 on Tuesday. 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 twelve month low of $24.97 and a twelve month high of $57.19. The stock has a market cap of $2.31 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 0.58 and a beta of 1.42.

In other news, EVP Christopher Anthony Harrison purchased 4,750 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The stock was purchased at an average cost of $31.40 per share, with a total value of $149,150.00. Following the acquisition, the executive vice president now directly owns 19,280 shares of the company’s stock, valued at approximately $605,392. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Isabella purchased 3,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The shares were purchased at an average cost of $31.76 per share, with a total value of $101,632.00. Following the completion of the acquisition, the chief executive officer now directly owns 143,459 shares in the company, valued at $4,556,257.84. The disclosure for this purchase can be found here. Insiders have purchased a total of 23,625 shares of company stock valued at $753,469 over the last three months. 1.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio raised its stake in shares of Beacon Roofing Supply by 42.1% in the fourth quarter. Strs Ohio now owns 2,700 shares of the company’s stock worth $85,000 after acquiring an additional 800 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of Beacon Roofing Supply by 0.5% in the fourth quarter. Eagle Asset Management Inc. now owns 199,720 shares of the company’s stock worth $6,335,000 after acquiring an additional 917 shares during the last quarter. Csenge Advisory Group bought a new position in shares of Beacon Roofing Supply in the third quarter worth about $27,000. First Personal Financial Services bought a new position in shares of Beacon Roofing Supply in the fourth quarter worth about $33,000. Finally, IFP Advisors Inc raised its stake in shares of Beacon Roofing Supply by 107.6% in the fourth quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock worth $65,000 after acquiring an additional 1,076 shares during the last quarter.

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.

Featured Story: Cost of Capital Explained

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

Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit