Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Stock analysts at Northcoast Research lowered their Q3 2019 earnings per share estimates for Beacon Roofing Supply in a research note issued to investors on Friday, May 10th. Northcoast Research analyst K. Hocevar now expects that the company will post earnings per share of $1.25 for the quarter, down from their previous forecast of $1.33. Northcoast Research also issued estimates for Beacon Roofing Supply’s Q4 2019 earnings at $1.37 EPS.
BECN has been the topic of several other reports. Robert W. Baird decreased their price target on shares of Beacon Roofing Supply from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Tuesday, March 26th. BidaskClub lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Wedbush reissued a “neutral” rating and set a $33.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, May 8th. SunTrust Banks reissued a “buy” rating and set a $44.00 target price on shares of Beacon Roofing Supply in a report on Friday, February 8th. Finally, Royal Bank of Canada boosted their target price on shares of Beacon Roofing Supply to $40.00 and gave the stock a “sector perform” rating in a report on Thursday, May 9th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus price target of $40.41.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.06. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. Beacon Roofing Supply had a net margin of 0.41% and a return on equity of 10.76%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) EPS.
Large investors have recently bought and sold shares of the company. Investors Research Corp acquired a new position in shares of Beacon Roofing Supply during the 1st quarter valued at $29,000. First Personal Financial Services acquired a new position in shares of Beacon Roofing Supply during the 4th quarter valued at $33,000. Quantamental Technologies LLC acquired a new position in shares of Beacon Roofing Supply during the 1st quarter valued at $63,000. IFP Advisors Inc lifted its position in shares of Beacon Roofing Supply by 107.6% during the 4th quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock valued at $65,000 after acquiring an additional 1,076 shares during the period. Finally, Lloyds Banking Group plc lifted its position in shares of Beacon Roofing Supply by 81.6% during the 4th quarter. Lloyds Banking Group plc now owns 2,534 shares of the company’s stock valued at $80,000 after acquiring an additional 1,139 shares during the period.
In other news, major shareholder Cd&R Investment Associates Ix, acquired 5,609,763 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $33.31 per share, with a total value of $186,861,205.53. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
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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