Posted by admin on May 14th, 2022

Brokerages predict that Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) will report $2.11 earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Beacon Roofing Supply’s earnings. The highest EPS estimate is $2.50 and the lowest is $1.67. Beacon Roofing Supply reported earnings per share of $1.59 during the same quarter last year, which would indicate a positive year over year growth rate of 32.7%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Beacon Roofing Supply will report full year earnings of $6.08 per share for the current year, with EPS estimates ranging from $5.23 to $7.28. For the next fiscal year, analysts anticipate that the company will post earnings of $6.20 per share, with EPS estimates ranging from $5.39 to $7.60. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Beacon Roofing Supply.

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 20th. Wells Fargo & Company lifted their target price on shares of Beacon Roofing Supply from $59.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 21st. Robert W. Baird raised their price target on shares of Beacon Roofing Supply from $74.00 to $83.00 in a report on Friday, May 6th. Truist Financial cut their price target on shares of Beacon Roofing Supply from $58.00 to $55.00 in a report on Monday, February 7th. Finally, StockNews.com started coverage on shares of Beacon Roofing Supply in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply presently has an average rating of “Hold” and a consensus target price of $63.22.

Shares of NASDAQ:BECN opened at $61.28 on Friday. The stock has a market cap of $4.21 billion, a PE ratio of 17.71 and a beta of 1.77. The company’s fifty day moving average is $60.03 and its 200 day moving average is $57.09. Beacon Roofing Supply has a 52 week low of $46.62 and a 52 week high of $64.90. The company has a quick ratio of 1.08, a current ratio of 1.85 and a debt-to-equity ratio of 1.01.

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 102,219 shares of the stock in a transaction that occurred on Friday, April 29th. The stock was bought at an average cost of $58.70 per share, with a total value of $6,000,255.30. Following the transaction, the insider now directly owns 14,755,648 shares in the company, valued at approximately $866,156,537.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 4,000 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $63.00, for a total transaction of $252,000.00. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of BECN. JPMorgan Chase & Co. lifted its position in Beacon Roofing Supply by 560.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,085,625 shares of the company’s stock valued at $119,611,000 after acquiring an additional 1,769,848 shares during the period. American Century Companies Inc. lifted its position in Beacon Roofing Supply by 29.6% during the 3rd quarter. American Century Companies Inc. now owns 2,907,579 shares of the company’s stock valued at $138,866,000 after acquiring an additional 663,871 shares during the period. Norges Bank purchased a new position in Beacon Roofing Supply during the 4th quarter valued at about $29,982,000. Vaughan Nelson Investment Management L.P. purchased a new position in Beacon Roofing Supply in the fourth quarter worth about $28,544,000. Finally, Frontier Capital Management Co. LLC raised its holdings in Beacon Roofing Supply by 46.3% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,398,819 shares of the company’s stock worth $80,222,000 after buying an additional 442,700 shares during the last quarter.

Beacon Roofing Supply Company Profile (Get Rating)

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.

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