Wall Street brokers expect Beacon Roofing Supply, Inc. (NASDAQ: BECN) to generate revenue of $ 1.32 billion in the current fiscal quarter, according to Zacks. Seven analysts estimated the profits of Beacon Roofing Supply. The lowest revenue estimate is $ 1.26 billion and the highest is $ 1.44 billion. Beacon Roofing Supply had sales of $ 1.46 billion in the same quarter last year, representing a negative growth rate of 9.6% year over year. The company is expected to release its next results after the market closes on Thursday, May 6th.
On average, analysts expect Beacon Roofing Supply to post total annual sales of $ 6.46 billion for the current fiscal year, with estimates ranging from $ 6.38 to $ 6.59 billion. For the next fiscal year, analysts forecast sales of $ 6.80 billion, with estimates ranging between $ 6.59 and 7.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts studying Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ: BECN) last released its quarterly results on Sunday, February 7th. The company reported earnings of $ 1.15 per share for the quarter, beating Zacks’ consensus estimate of $ 0.60 by $ 0.55. Beacon Roofing Supply achieved a positive return on equity of 10.89% and a negative net margin of 1.16%. The company had revenue of $ 1.83 billion for the quarter, compared to the consensus estimate of $ 1.70 billion. For the same period last year, the company posted earnings of $ 0.36 per share. The company’s quarterly sales increased 9.0% year over year.
A number of research analysts recently rated the BECN share. Truist raised its price target for Beacon Roofing Supply from $ 43.00 to $ 49.00 in a research note on Tuesday, February 9th. BMO Capital Markets raised Beacon Roofing Supply from a “Market Perform” rating to an “Outperform” rating in a report on Tuesday, February 9, and raised its price target for the company from $ 47.00 to $ 53.00 raised. Loop Capital raised its target price on Beacon Roofing Supply from $ 57.00 to $ 63.00 and rated the company a “Buy” in a report on Tuesday, April 20. Stifel Nicolaus reported on Beacon Roofing Supply on Monday March 15th. They set a buy recommendation and a price target of $ 61.00 for the stock. Finally, Northcoast Research issued a “neutral” rating on shares of Beacon Roofing Supply in a report on Wednesday April 21st. Six analysts have given the stock a hold rating and eight with a buy rating. Beacon Roofing Supply currently has an average rating of “Buy” and a consensus target of $ 47.69.
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In other news, EVP Christopher Anthony Harrison sold 20,415 shares in the company in a transaction on Wednesday, February 10th. The stock sold at an average price of $ 45.33 for a total transaction of $ 925,411.95. Upon completion of the sale, the executive vice president now holds 39,194 shares in the company valued at $ 1,776,664.02. The transaction was announced in a filing with the SEC, which is available at this hyperlink. In addition, COO C Eric Swank sold 31,463 shares in the company in a transaction on Friday, February 12th. The stock sold at an average price of $ 47.21 for a total value of $ 1,485,368.23. Following the sale, the chief operating officer now holds 50,096 shares in the company valued at approximately $ 2,365,032.16. The disclosure for this sale can be found here. In the most recent quarter, insiders sold 76,520 shares in the company, valued at $ 3,660,984. Corporate insiders own 1.40% of the company’s stock.
Several hedge funds recently bought and sold shares in BECN. BlackRock Inc. increased its stake in Beacon Roofing Supply by 6.4% in the fourth quarter. BlackRock Inc. now owns 4,109,745 shares in the company, valued at $ 165,170,000, after acquiring an additional 247,085 shares last quarter. Iridian Asset Management LLC’s CT increased its stake in Beacon Roofing Supply by 0.3% in the fourth quarter. Iridian Asset Management LLC CT now owns 2,822,986 shares in the company valued at $ 113,456,000 after purchasing an additional 7,490 shares during the period. Norges Bank took a new position in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $ 27,769,000. FMR LLC increased its stake in Beacon Roofing Supply by 175.1% in the first quarter. FMR LLC now owns 550,230 shares of the company valued at $ 17,695,000 after purchasing an additional 350,228 shares during the reporting period. Finally, WCM Investment Management LLC increased its stake in Beacon Roofing Supply by 1.7% in the fourth quarter. WCM Investment Management LLC now owns 505,936 shares in the company valued at $ 20,334,000 after acquiring an additional 8,392 shares during the period.
BECN’s shares opened at $ 57.31 on Wednesday. The stock’s 50-day simple moving average is $ 54.45 and the 200-day simple moving average is $ 44.31. The company has a leverage ratio of 1.56, a fast rate of 1.25, and a current rate of 1.82. Beacon Roofing Supply has a twelve month low of $ 17.05 and a twelve month high of $ 57.78. The company has a market cap of $ 3.98 billion, value for money of -34.73, and a beta of 1.97.
Beacon Roofing Supply company profile
Beacon Roofing Supply, Inc, through its subsidiaries, distributes residential and non-residential roofing materials and ancillary construction products to contractors, builders, home builders and retailers. The company’s residential roofing products include asphalt shingles, synthetic slate and brick, clay and concrete tile, slate, nail base insulation, metal roofing, felt, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edging and siding, pre-made moldings, ridges and Reveal openings as well as solar systems.
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