Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) – Investment analysts at Zacks Research lowered their Q1 2024 earnings estimates for Beacon Roofing Supply in a research note issued on Monday, March 18th. Zacks Research analyst S. Mukherjee now forecasts that the company will post earnings per share of $0.42 for the quarter, down from their prior estimate of $0.71. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $7.82 per share. Zacks Research also issued estimates for Beacon Roofing Supply’s Q3 2024 earnings at $2.59 EPS, Q4 2024 earnings at $1.71 EPS, FY2024 earnings at $7.45 EPS, Q3 2025 earnings at $2.32 EPS, Q4 2025 earnings at $1.98 EPS, FY2025 earnings at $8.43 EPS and FY2026 earnings at $9.13 EPS.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the business posted $1.18 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis.
A number of other research analysts have also recently weighed in on the stock. StockNews.com raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. TheStreet raised shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. William Blair raised shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. Stifel Nicolaus lifted their target price on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Finally, Robert W. Baird raised shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $99.00 to $115.00 in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.45.
Check Out Our Latest Research Report on BECN
Beacon Roofing Supply Trading Up 4.9 %
Shares of BECN opened at $92.70 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.85 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $85.58 and a 200-day simple moving average of $81.29. Beacon Roofing Supply has a 1-year low of $54.60 and a 1-year high of $92.81. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of -197.23, a price-to-earnings-growth ratio of 1.56 and a beta of 1.62.
Hedge Funds Weigh In On Beacon Roofing Supply
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Summit Trail Advisors LLC lifted its holdings in shares of Beacon Roofing Supply by 1.9% during the 4th quarter. Summit Trail Advisors LLC now owns 6,555 shares of the company’s stock valued at $570,000 after acquiring an additional 121 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Beacon Roofing Supply by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 8,607 shares of the company’s stock worth $749,000 after buying an additional 129 shares during the period. West Tower Group LLC increased its stake in Beacon Roofing Supply by 21.1% during the 4th quarter. West Tower Group LLC now owns 802 shares of the company’s stock worth $70,000 after buying an additional 140 shares during the period. Parkside Financial Bank & Trust increased its stake in Beacon Roofing Supply by 49.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock worth $38,000 after buying an additional 161 shares during the period. Finally, Laurel Wealth Advisors Inc. increased its stake in Beacon Roofing Supply by 2.9% during the 4th quarter. Laurel Wealth Advisors Inc. now owns 5,940 shares of the company’s stock worth $314,000 after buying an additional 166 shares during the period.
Beacon Roofing Supply Company Profile
(Get Free Report)
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the 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. The company 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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