Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) – Research analysts from Zacks Research released their estimates for fiscal 2024 earnings per share (EPS) for Beacon Roofing in a report published on Monday, June 19 Supply raised. S. Mukherjee, an analyst at Zacks Research, now forecasts that the company will report earnings per share of $6.47 for the year, up from the previous estimate of $6.33. The consensus estimate for Beacon Roofing Supply’s most recent full-year earnings is $6.43 per share. Zacks Research also released estimates for Beacon Roofing Supply’s earnings for the first quarter of 2025, posting earnings per share of $1.33.
Beacon Roofing Supply (NASDAQ:BECN – Get rating) last released its quarterly earnings data on Thursday, May 4th. The company reported earnings per share of $0.67 for the quarter, beating the consensus estimate of $0.61 by $0.06. Beacon Roofing Supply had a net margin of 5.01% and a return on equity of 27.52%. The company made $1.73 billion in revenue for the quarter, compared to analysts’ expectations of $1.78 billion.
Other research analysts have also recently issued research reports on the company. Zelman & Associates downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Friday, March 10. Robert W. Baird raised his price target on Beacon Roofing Supply to $76.00 from $65.00 and gave the company a neutral rating in a research note on Monday, February 27. BMO Capital Markets raised its price target on Beacon Roofing Supply to $90.00 from $75.00 in a research note on Friday, June 16. TheStreet downgraded Beacon Roofing Supply from a “b” rating to a “c” rating in a research note on Friday, May 5th. Finally, Loop Capital raised its price target on Beacon Roofing Supply to $84.00 from $76.00 in a research note on Friday, June 9. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.78.
Stock performance of Beacon Roofing Supply
Beacon Roofing Supply stock opened at $80.75 on Thursday. Beacon Roofing Supply has a 52-week low of $45.71 and a 52-week high of $81.23. The company has a debt to equity ratio of 1.00, a short term ratio of 1.09 and a current ratio of 2.07. The stock has a market cap of $5.15 billion, a P/E of 15.53 and a beta of 1.58. The company’s 50-day moving average price is $65.49 and its 200-day moving average price is $60.40.
Institutional investors are evaluating the Beacon Roofing offering
Several major investors recently added to or reduced their stakes in the stock. Hsbc Holdings PLC increased its stake in Beacon Roofing Supply by 41.0% during the third quarter. Hsbc Holdings PLC now owns 16,553 shares of the company, valued at $918,000, after purchasing an additional 4,810 shares last quarter. Natixis Advisors LP increased its stake in Beacon Roofing Supply by 124.5% during the fourth quarter. Natixis Advisors LP now owns 98,786 shares of the company valued at $5,215,000 after purchasing an additional 54,774 shares last quarter. Contravisory Investment Management Inc. increased its stake in Beacon Roofing Supply by 13.0% during the fourth quarter. Contravisory Investment Management Inc. now owns 4,384 shares of the company, valued at $231,000, after purchasing an additional 506 shares last quarter. Gladius Capital Management LP purchased a new position in Beacon Roofing Supply stock worth $55,000 during the fourth quarter. Finally, Acrisure Capital Management LLC acquired a new position in Beacon Roofing Supply stock valued at $506,000 during the fourth quarter.
Insider Buying and Selling at Beacon Roofing Supply
In other news from Beacon Roofing Supply, major shareholder Cd&R Investment Associates Ix bought 99,880 shares of the company’s stock in a transaction on Friday, April 28. The stock was acquired at an average price of $60.07 per share for a total value of $5,999,791.60. Upon completion of the purchase, the insider now owns 15,171,964 shares of the company’s stock, valued at $911,379,877.48. The acquisition was disclosed in a filing with the SEC, which is available on the SEC’s website. In other news from Beacon Roofing Supply, major shareholder Cd&R Investment Associates Ix bought 99,880 shares of the company’s stock in a transaction on Friday, April 28. The stock was acquired at an average price of $60.07 per share for a total value of $5,999,791.60. Upon completion of the purchase, the insider now owns 15,171,964 shares of the company’s stock, valued at $911,379,877.48. The acquisition was disclosed in a filing with the SEC, which is available on the SEC’s website. In addition, Director Stuart A. Randle sold 10,299 shares of the company in a transaction on Thursday, June 8th. The shares sold at an average price of $72.43 for a total transaction of $745,956.57. Following the sale, the director now directly owns 31,417 shares of the Company, valued at approximately $2,275,533.31. The disclosure for this sale can be found here. During the most recent quarter, insiders sold 21,910 shares of the company’s stock for $1,558,209. Company insiders own 1.30% of the company’s stock.
About Beacon Roofing Supply
(get rating)
Beacon Roofing Supply, Inc., together with its subsidiaries, is engaged in the distribution of residential and non-residential roofing materials and ancillary building products to contractors, home builders, builders, lumber yards and retailers throughout the United States and Canada. It offers pitched roof and flat roof products; gutters and siding; building materials such as lumber and composites, skylights and windows, plywood and OSB, decking and railings, and HVAC products; and foam board, spray foam, rolls, batts, mineral wool, fiberglass and commercial insulation products, as well as radiant barriers and blown insulation and appliances.
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