Seaport Global Securities Weighs in on Beacon Roofing Supply, Inc.’s Q2 2019 Earnings (NASDAQ:BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Analysts at Seaport Global Securities dropped their Q2 2019 earnings per share estimates for Beacon Roofing Supply in a research note issued to investors on Tuesday, March 26th, Zacks Investment Research reports. Seaport Global Securities analyst M. Mccall now anticipates that the company will post earnings of ($0.50) per share for the quarter, down from their previous estimate of ($0.28).

Several other equities analysts also recently commented on BECN. Zacks Investment Research downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Royal Bank of Canada set a $35.00 price target on shares of Beacon Roofing Supply and gave the company a “hold” rating in a research note on Tuesday, March 26th. Buckingham Research decreased their price target on shares of Beacon Roofing Supply from $38.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 26th. BidaskClub upgraded shares of Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Finally, Raymond James set a $45.00 price objective on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $40.12.

Shares of BECN stock traded up $0.91 on Thursday, hitting $38.80. The company’s stock had a trading volume of 545,198 shares, compared to its average volume of 907,135. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.35 and a current ratio of 2.43. Beacon Roofing Supply has a fifty-two week low of $24.97 and a fifty-two week high of $52.29. The company has a market capitalization of $2.66 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 0.64 and a beta of 1.42.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, February 7th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Beacon Roofing Supply had a net margin of 0.43% and a return on equity of 11.19%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the company posted $0.68 earnings per share. Beacon Roofing Supply’s revenue was up 53.5% compared to the same quarter last year.

In other news, major shareholder Cd&R Investment Associates Ix, acquired 5,609,763 shares of Beacon Roofing Supply stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $33.31 per share, for a total transaction of $186,861,205.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in shares of Beacon Roofing Supply in the 1st quarter valued at approximately $96,000. Deutsche Bank AG boosted its stake in shares of Beacon Roofing Supply by 36.5% in the 4th quarter. Deutsche Bank AG now owns 222,340 shares of the company’s stock valued at $7,050,000 after purchasing an additional 59,512 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Beacon Roofing Supply by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 761,064 shares of the company’s stock valued at $24,140,000 after purchasing an additional 53,900 shares in the last quarter. Norges Bank acquired a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at approximately $23,992,000. Finally, FMR LLC acquired a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at approximately $6,344,000.

Beacon Roofing Supply Company Profile

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

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