Brokerages Anticipate Beacon Roofing Supply, Inc. (NASDAQ:BECN) Will Post Quarterly Sales of $1.31 Billion
Stock analysts expect Beacon Roofing Supply, Inc. (NASDAQ: BECN) to generate revenue of $ 1.31 billion in the current quarter, according to Zacks. Seven analysts have published estimates of Beacon Roofing Supply’s earnings. 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, a negative year-over-year growth rate of 10.3%. The company is expected to announce its next results on Thursday, May 6th.
On average, analysts expect Beacon Roofing Supply to post total annual sales of $ 6.44 billion for the current fiscal year, with estimates ranging from $ 6.38 to $ 6.49 billion. For the next year, analysts are forecasting revenues of $ 6.78 billion, with estimates ranging between $ 6.59 billion and $ 7.49 billion. Zacks Investment Research’s average revenue is 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 per share of $ 1.15 for the quarter, beating analysts’ consensus estimate of $ 0.60 by $ 0.55. Beacon Roofing Supply had a negative net margin of 1.16% and a positive return on equity of 10.89%. The company had revenue of $ 1.83 billion for the quarter, compared to analysts’ expectations of $ 1.70 billion. For the same quarter last year, the company had earnings per share of $ 0.36. Beacon Roofing Supply sales increased 9.0% year over year.
A number of stock analysts have published reports on BECN stocks. The Royal Bank of Canada raised Beacon Roofing Supply from an “underperform” rating to a “sector performance” rating and raised its price target for the company from $ 37.00 in a report dated Tuesday, February 9th $ 48.00. Longbow Research upgraded Beacon Roofing Supply’s shares from a “neutral” rating to a “buy” rating and in a report on Tuesday, January 26, set a price target of $ 60.00 on the stock. Deutsche Bank Aktiengesellschaft raised its target price for Beacon Roofing Supply on Tuesday, December 22nd, in a research note from USD 41.00 to USD 44.00. Zacks Investment Research cut the Beacon Roofing Supply from a “buy” rating to a “hold” rating and set a price target of $ 45.00 on the stock. in a research report on Friday, January 22nd. Finally, Robert W. Baird raised his target price on Beacon Roofing Supply from $ 43.00 to $ 48.00 and rated the company as “Outperform” in a research report on Friday, November 20. One investment analyst has given the stock a sell rating, six have given it a hold rating, and ten have given the company a buy rating. The company currently has a consensus rating of “Buy” and an average price target of $ 39.50.
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In other Beacon Roofing Supply news, insider Jason L. Taylor sold 3,387 shares of Beacon Roofing Supply stock on Thursday, March 11. The stock sold at an average price of $ 53.21 for a total value of $ 180,222.27. Following the transaction, the Insider now directly holds 8,804 shares in the company valued at approximately $ 468,460.84. The sale was announced in a legal filing with the Securities & Exchange Commission, which is available on the SEC website. Insider Clement Munroe Best III also sold 11,000 Beacon Roofing Supply shares on Friday, February 19. The stock sold at an average price of $ 47.06 for a total value of $ 517,660.00. Upon completion of the transaction, the Insider now directly holds 71,002 shares in the company valued at $ 3,341,354.12. The disclosure for this sale can be found here. Insiders have sold a total of 72,520 shares in the company for $ 3,432,984 in the past 90 days. Currently 1.40% of the shares are owned by company insiders.
A number of institutional investors have recently changed their position in business. Aperio Group LLC increased its stake in Beacon Roofing Supply by 4.6% in the fourth quarter. Aperio Group LLC now owns 9,678 shares in the company valued at $ 389,000 after purchasing an additional 425 shares during the reporting period. Nisa Investment Advisors LLC increased its stake in Beacon Roofing Supply by 6.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,830 shares of the company valued at $ 355,000 after purchasing an additional 500 shares during the reporting period. Zeke Capital Advisors LLC increased its stake in Beacon Roofing Supply by 7.0% in the third quarter. Zeke Capital Advisors LLC now owns 10,579 shares in the company valued at $ 329,000 after purchasing an additional 689 shares during the reporting period. Advisory Services Network LLC acquired a new position in Beacon Roofing Supply shares valued at approximately $ 45,000 in the fourth quarter. Finally, Manufacturers Life Insurance Company increased its stake in Beacon Roofing Supply by 3.8% in the fourth quarter. Manufacturers Life Insurance Company now owns 33,054 shares in the company valued at $ 1,328,000 after purchasing an additional 1,223 shares during the period.
BECN’s shares opened at $ 54.31 on Monday. The company’s fifty day simple moving average is $ 45.70 and the two hundred day simple moving average is $ 38.45. The company has a leverage ratio of 1.56, a current rate of 1.82, and a fast rate of 1.25. Beacon Roofing Supply has a 1 year low of $ 11.66 and a 1 year high of $ 54.40. The stock has a market capitalization of $ 3.77 billion, a price to earnings ratio of -32.91, and a beta of 1.97.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc, through its subsidiaries, distributes residential and non-residential roofing materials and ancillary construction products to contractors, builders, 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-fabricated moldings, ridges and Reveal openings as well as solar systems.
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