Beacon Roofing Supply (NASDAQ:BECN) is set to release its earnings data after the market close on Thursday, May 4th. Expected earnings per share for the quarter are $0.62. The company’s conference call can be accessed via a link provided for those interested in monitoring their earnings report.
Recent data suggests that institutional investors remain interested, with some increasing or decreasing their stakes in the stock. Advisor Group Holdings Inc grew Beacon Roofing Supply by 37.5% in the first quarter and owned about $65,000 in stock after buying another 300 shares last quarter. The State of Wyoming acquired $131,000 of new equity, while Baird Financial Group secured approximately $209,000 of new equity in the first quarter alone.
Regarding equity analysts’ views on BECN stocks, on March 10 Zelman & Associates lowered its rating from “Hold” to “Sell,” while Deutsche Bank Aktiengesellschaft raised its target price from $81 to $85 and gave it a rating of “Buy.” . Robert W. Baird rated Beacon as “neutral” with price targets between $65 and $76 per share, and Stephens described the company as “balance weight” with price targets up to $73 per share.
Beacon Roofing is almost unanimously rated by analysts, with one selling it, six holding it and two buying it – it’s been labeled a hold according to Bloomberg’s consensus rating. Bloomberg suggests that traders should expect uncertainty surrounding the stock prices due to differing opinions about the stock from different equity analysts. This can mean that there could be volatility before prices stabilize over time.
Overall, Beacon Roofing Supply’s earnings calls bring significant expectations from various institutional investors worldwide who have placed trades based on new news about developments within Beacon and reflect recent changes in share prices assigned by the aforementioned institutions.
Beacon Roofing Supply beats expectations with strong Q1 earnings results
Beacon Roofing Supply, a leading distributor of roofing materials and related products in North America, recently released its quarterly results for the period ended February 23rd. The company’s reported earnings per share (EPS) were $1.22, beating the consensus estimate of $1.16 by $0.06. Additionally, Beacon Roofing Supply managed to post $1.97 billion in revenue for the quarter.
While analysts were expecting revenue to approach $1.98 billion, that didn’t stop Beacon Roofing Supply’s success from continuing into the quarter-end as the company posted a strong return on equity of 30.06% and a net margin of 5. scored 44%.
The company’s stock symbol “BECN” opened Thursday at $57.24 with a market cap of $3.68 billion, solidifying its position as one of the major players in the industry.
In addition, major shareholder Cd&R Investment Associates Ix acquired over 107,000 shares of the company in January, according to recently released regulatory filings; totaling a staggering total of over $6 million.
Looking at industry analyst forecasts, there is a lot of optimism about Beacon Roofing Supply going forward, with median forecasts predicting earnings per share of around $6 and an expected increase of up to $7 in subsequent years .
Overall, after this recent wave of success, Beacon Roofing Supply appears poised for continued success; Forecasting steady upward growth trends alongside consistent high-performing numbers throughout their quarterly earnings releases is certainly something investors should keep a close eye on going forward in order to maximize returns while minimizing the level of risk for those investing in this thriving business.
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