Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) – Equities researchers at William Blair boosted their Q2 2024 EPS estimates for shares of Beacon Roofing Supply in a research report issued on Wednesday, January 10th. William Blair analyst R. Merkel now anticipates that the company will earn $3.07 per share for the quarter, up from their prior forecast of $3.05. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $7.50 per share. William Blair also issued estimates for Beacon Roofing Supply’s FY2024 earnings at $8.60 EPS and FY2025 earnings at $10.18 EPS.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last released its earnings results on Thursday, November 2nd. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.31. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.59 billion. Beacon Roofing Supply had a return on equity of 25.71% and a net margin of 4.67%.
Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group reduced their target price on shares of Beacon Roofing Supply from $92.00 to $89.00 in a research note on Thursday, October 12th. Stifel Nicolaus lifted their price objective on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Truist Financial dropped their target price on Beacon Roofing Supply from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, October 17th. StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Saturday, January 6th. Finally, JPMorgan Chase & Co. decreased their price objective on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply presently has an average rating of “Moderate Buy” and a consensus target price of $92.64.
Read Our Latest Report on BECN
Beacon Roofing Supply Trading Down 0.9 %
Shares of BECN opened at $84.19 on Friday. The firm has a market cap of $5.33 billion, a P/E ratio of -79.42, a price-to-earnings-growth ratio of 1.20 and a beta of 1.63. Beacon Roofing Supply has a fifty-two week low of $52.52 and a fifty-two week high of $89.39. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.05 and a current ratio of 1.73. The business has a 50-day moving average of $82.54 and a 200 day moving average of $80.19.
Hedge Funds Weigh In On Beacon Roofing Supply
Hedge funds and other institutional investors have recently bought and sold shares of the stock. FCF Advisors LLC purchased a new position in Beacon Roofing Supply in the fourth quarter worth $422,000. Vanguard Group Inc. raised its position in Beacon Roofing Supply by 19.3% during the third quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock valued at $434,118,000 after purchasing an additional 909,819 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in Beacon Roofing Supply during the third quarter worth about $540,000. American Century Companies Inc. boosted its holdings in shares of Beacon Roofing Supply by 9.3% in the 3rd quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock worth $211,017,000 after purchasing an additional 233,393 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Beacon Roofing Supply by 25.2% during the 3rd quarter. Deutsche Bank AG now owns 30,866 shares of the company’s stock valued at $2,382,000 after purchasing an additional 6,210 shares during the last quarter.
Insider Activity
In related news, insider Jason L. Taylor sold 1,806 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $88.75, for a total value of $160,282.50. Following the transaction, the insider now directly owns 11,178 shares in the company, valued at $992,047.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.
Beacon Roofing Supply Company Profile
(Get Free Report)
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. It offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.
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