Brokerages predict that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will announce sales of $1.39 billion for the current quarter, Zacks reports. Ten analysts have issued estimates for Beacon Roofing Supply’s earnings, with the highest sales estimate coming in at $1.49 billion and the lowest estimate coming in at $1.27 billion. Beacon Roofing Supply posted sales of $1.43 billion in the same quarter last year, which would indicate a negative year over year growth rate of 2.8%. The business is expected to report its next quarterly earnings results on Tuesday, May 14th.
On average, analysts expect that Beacon Roofing Supply will report full year sales of $7.13 billion for the current fiscal year, with estimates ranging from $7.05 billion to $7.23 billion. For the next fiscal year, analysts forecast that the firm will report sales of $7.38 billion, with estimates ranging from $7.24 billion to $7.55 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, February 7th. The company reported $0.60 EPS for the quarter, beating the Zacks’ 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 company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. Beacon Roofing Supply’s revenue for the quarter was up 53.5% compared to the same quarter last year.
BECN has been the subject of a number of analyst reports. BidaskClub raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Wednesday, February 20th. 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 Friday, February 8th. SunTrust Banks reiterated a “buy” rating and issued a $44.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, February 8th. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Monday, February 4th. Finally, Royal Bank of Canada set a $37.00 price target on shares of Beacon Roofing Supply and gave the company a “hold” rating in a research report on Friday, February 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. Beacon Roofing Supply presently has an average rating of “Hold” and a consensus target price of $40.12.
NASDAQ:BECN traded down $0.03 during midday trading on Friday, reaching $37.39. 167,774 shares of the stock traded hands, compared to its average volume of 933,681. Beacon Roofing Supply has a 12-month low of $24.97 and a 12-month high of $53.00. The company has a quick ratio of 1.35, a current ratio of 2.43 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 0.61 and a beta of 1.42.
In related news, major shareholder Cd&R Investment Associates Ix, bought 5,609,763 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $33.31 per share, for a total transaction of $186,861,205.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. SHANDA ASSET MANAGEMENT HOLDINGS Ltd purchased a new position in shares of Beacon Roofing Supply in the fourth quarter worth about $2,069,000. Vanguard Group Inc. lifted its stake in shares of Beacon Roofing Supply by 1.6% in the third quarter. Vanguard Group Inc. now owns 5,993,864 shares of the company’s stock worth $216,918,000 after buying an additional 96,227 shares in the last quarter. Personal Capital Advisors Corp lifted its stake in shares of Beacon Roofing Supply by 69.1% in the fourth quarter. Personal Capital Advisors Corp now owns 63,630 shares of the company’s stock worth $2,018,000 after buying an additional 25,994 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Beacon Roofing Supply in the fourth quarter worth about $25,887,000. Finally, Strs Ohio lifted 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 buying an additional 800 shares in the last quarter.
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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