Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) – Equities research analysts at Zacks Research cut their Q1 2024 earnings per share estimates for shares of Beacon Roofing Supply in a report released on Monday, March 18th. Zacks Research analyst S. Mukherjee now anticipates that the company will earn $0.42 per share for the quarter, down from their prior estimate of $0.71. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $7.86 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.
Get Beacon Roofing Supply alerts:
Sign Up
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company posted $1.18 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year.
Several other analysts also recently commented on BECN. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lowered their price objective on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. Robert W. Baird raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $99.00 to $115.00 in a research note on Thursday, February 29th. StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Finally, William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on 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 Report on Beacon Roofing Supply
Beacon Roofing Supply Stock Up 0.5 %
BECN stock traded up $0.47 during trading on Wednesday, reaching $93.17. 186,320 shares of the stock were exchanged, compared to its average volume of 745,881. The firm’s 50 day moving average is $85.58 and its 200 day moving average is $81.29. Beacon Roofing Supply has a twelve month low of $54.60 and a twelve month high of $93.74. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30.
Hedge Funds Weigh In On Beacon Roofing Supply
Several institutional investors and hedge funds have recently bought and sold shares of the company. Summit Trail Advisors LLC grew its holdings in Beacon Roofing Supply by 1.9% during the fourth quarter. Summit Trail Advisors LLC now owns 6,555 shares of the company’s stock valued at $570,000 after purchasing an additional 121 shares during the period. SummerHaven Investment Management LLC grew its holdings in Beacon Roofing Supply by 1.5% during the fourth quarter. SummerHaven Investment Management LLC now owns 8,607 shares of the company’s stock valued at $749,000 after purchasing an additional 129 shares during the period. West Tower Group LLC grew its holdings in Beacon Roofing Supply by 21.1% during the fourth quarter. West Tower Group LLC now owns 802 shares of the company’s stock valued at $70,000 after purchasing an additional 140 shares during the period. Parkside Financial Bank & Trust grew its holdings in Beacon Roofing Supply by 49.4% during the third quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock valued at $38,000 after purchasing an additional 161 shares during the period. Finally, Laurel Wealth Advisors Inc. boosted its holdings in shares of Beacon Roofing Supply by 2.9% in the fourth quarter. Laurel Wealth Advisors Inc. now owns 5,940 shares of the company’s stock worth $314,000 after acquiring 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.
Read More
Before you consider Beacon Roofing Supply, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Beacon Roofing Supply wasn’t on the list.
While Beacon Roofing Supply currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today’s challenging market? Click the link below and we’ll send you MarketBeat’s list of ten stocks that will drive in any economic environment.
Get This Free Report
www.marketbeat.com
https://www.marketbeat.com/instant-alerts/nasdaq-becn-analyst-earnings-estimates-2024-03-20/
