Zacks: Brokerages Expect Beacon Roofing Supply, Inc. (NASDAQ:BECN) to Announce $1.24 Earnings Per Share

Brokerages forecast that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will post $1.24 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Beacon Roofing Supply’s earnings, with the highest EPS estimate coming in at $1.34 and the lowest estimate coming in at $1.07. Beacon Roofing Supply reported earnings of $1.18 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The business is expected to report its next quarterly earnings report after the market closes on Tuesday, August 6th.

On average, analysts expect that Beacon Roofing Supply will report full year earnings of $2.91 per share for the current fiscal year, with EPS estimates ranging from $2.70 to $3.02. For the next year, analysts anticipate that the firm will post earnings of $3.36 per share, with EPS estimates ranging from $3.10 to $3.57. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Beacon Roofing Supply.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Tuesday, May 7th. The company reported ($0.45) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.06. Beacon Roofing Supply had a return on equity of 10.76% and a net margin of 0.41%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company earned ($0.35) EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year.

Several equities analysts have recently commented on BECN shares. Raymond James lowered their price objective on Beacon Roofing Supply from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Royal Bank of Canada boosted their price objective on Beacon Roofing Supply to $40.00 and gave the company a “sector perform” rating in a research report on Thursday, May 9th. Wedbush restated a “neutral” rating and issued a $33.00 price objective on shares of Beacon Roofing Supply in a research report on Wednesday, May 8th. ValuEngine downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Tuesday, May 28th. Finally, BidaskClub downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $37.33.

NASDAQ:BECN traded down $0.09 during mid-day trading on Friday, hitting $35.16. 423,890 shares of the company traded hands, compared to its average volume of 416,880. The company has a fifty day moving average of $36.01. Beacon Roofing Supply has a one year low of $24.97 and a one year high of $42.95. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.22 and a current ratio of 2.27. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.40.

In related news, Director Richard W. Frost acquired 11,754 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were acquired at an average cost of $34.17 per share, for a total transaction of $401,634.18. Following the completion of the transaction, the director now directly owns 34,249 shares in the company, valued at approximately $1,170,288.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cd&R Investment Associates Ix, acquired 4,625,998 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were bought at an average price of $34.17 per share, for a total transaction of $158,070,351.66. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Investors Research Corp purchased a new stake in Beacon Roofing Supply during the first quarter valued at approximately $29,000. First Personal Financial Services grew its stake in shares of Beacon Roofing Supply by 45.6% during the first quarter. First Personal Financial Services now owns 1,508 shares of the company’s stock valued at $48,000 after buying an additional 472 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Beacon Roofing Supply during the first quarter valued at approximately $63,000. Hardy Reed LLC bought a new position in shares of Beacon Roofing Supply during the second quarter valued at approximately $84,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Beacon Roofing Supply during the first quarter valued at approximately $96,000.

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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