$1.31 EPS Expected for Beacon Roofing Supply, Inc. (NASDAQ:BECN) This Quarter

Stock research analysts expect Beacon Roofing Supply, Inc. (NASDAQ:BECN) will achieve earnings per share (EPS) of $1.31 for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Beacon Roofing Supply’s earnings. The lowest estimate of the EPS is $1.09 and the highest is $1.54. Beacon Roofing Supply posted earnings of $0.93 per share in the year-ago quarter, which would indicate positive year-over-year growth of 40.9%. The company is expected to publish its next quarterly results on Thursday, August 5.

On average, analysts expect Beacon Roofing Supply to report full-year earnings of $3.77 per share for the current fiscal year, with estimates of earnings per share ranging from $3.25 to $4.24. For the next fiscal year, analysts forecast the company to earn earnings of $4.15 per share, with EPS estimates ranging from $3.28 to $4.61. Zacks’ EPS calculations are an average average based on a survey of sales analysts related to Beacon Roofing Supply.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly results on Thursday, May 6. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.22. Beacon Roofing Supply had a positive return on equity of 16.33% and a negative net margin of 2.41%. The company had revenue of $1.32 billion for the quarter, compared to analyst expectations of $1.32 billion.

Several research firms have recently responded to BECN. Wells Fargo & Company began a research paper on Beacon Roofing Supply on Thursday, July 15. They set an equal weight rating and a $58.00 target for the company. Robert W. Baird reaffirmed an “outperform” rating and set a target price of $66.00 (previously $65.00) for Beacon Roofing Supply shares in a research note on Thursday, July 15. Northcoast Research reaffirmed a “neutral” rating on shares of Beacon Roofing Supply in a research note on Wednesday, April 21. Loop Capital raised its price target on Beacon Roofing Supply from $57.00 to $63.00 and advised the stock to buy on Tuesday, April 20. Finally, Truist raised its price target for Beacon Roofing Supply from $49.00 to $68.00 in a report on Friday, May 7. Six research analysts have given the stock a hold rating and seven have recommended the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $56.08.

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In other news about Beacon Roofing Supply, major shareholder Cd&R Investment Associates Ix acquired 563,611 shares of the company in a transaction that took place on Thursday, April 29. The stock was purchased at an average price of $53.23 per share, with a total value of $30,01,013.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed at: the SEC website. Insider Clement Munroe Best III also sold 4,000 shares of Beacon Roofing Supply in a transaction on Friday, May 7. The shares were sold at an average price of $60.00 for a total value of $240,000. Company insiders own 1.00% of the company’s stock.

A number of hedge funds have recently adjusted their holdings to BECN. FMR LLC increased its stake in Beacon Roofing Supply by 175.1% during the first quarter. FMR LLC now owns 550,230 shares of the company worth $17,695,000 after purchasing an additional 350,228 shares in the last quarter. Wells Fargo & Company MN increased its stake in Beacon Roofing Supply by 6.5% in the fourth quarter. Wells Fargo & Company MN now owns 176,270 shares of the company worth $7,085,000, after purchasing an additional 10,701 shares in the last quarter. Rhumbline Advisers increased its stake in the shares of Beacon Roofing Supply by 13.1% in the fourth quarter. Rhumbline Advisers now owns 97,090 shares of the company worth $3,902,000, after acquiring an additional 11,220 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in the shares of Beacon Roofing Supply by 3.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 33,054 shares of the company worth $1,328,000 after acquiring an additional 1,223 shares in the last quarter. Finally, ExodusPoint Capital Management LP increased its stake in the shares of Beacon Roofing Supply by 66.0% in the 4th quarter. ExodusPoint Capital Management LP now owns 12,196 shares of the company, valued at $490,000, after acquiring an additional 4,848 shares in the last quarter.

NASDAQ BECN opened at $50.48 on Tuesday. The company’s 50-day simple moving average is $55.01. Beacon Roofing Supply has a one-year low of $27.42 and a one-year high of $60.93. The company has a market cap of $3.53 billion, a PE ratio of -18.22 and a beta of 2.02. The company has a quick ratio of 1.24, a current ratio of 2.04 and a debt-to-equity ratio of 1.34.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc., along with its subsidiaries, distributes residential and non-residential roofing materials and ancillary construction products to contractors, home builders, building owners and retailers. The company’s residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulation, metal roofing, felt, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edging and flashings, prefabricated flashings, ridges and vents, and solar systems.

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Revenue History and Estimates for Beacon Roofing (NASDAQ:BECN)

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