Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) – Research analysts at Zacks Research dropped their Q1 2024 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a research note issued to investors on Thursday, March 28th. Zacks Research analyst S. Mukherjee now expects that the company will post earnings per share of $0.38 for the quarter, down from their prior forecast of $0.42. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $7.87 per share. Zacks Research also issued estimates for Beacon Roofing Supply’s Q3 2024 earnings at $2.63 EPS, Q2 2025 earnings at $2.69 EPS and Q3 2025 earnings at $2.33 EPS.
Several other research firms have also weighed in on BECN. JPMorgan Chase & Co. reduced their target price on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. Robert W. Baird raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $99.00 to $115.00 in a research note on Thursday, February 29th. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus lifted their target price on Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.45.
View Our Latest Stock Report on BECN
Beacon Roofing Supply Stock Up 3.1 %
NASDAQ:BECN opened at $98.02 on Friday. The stock’s fifty day simple moving average is $87.39 and its 200-day simple moving average is $82.21. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $6.22 billion, a P/E ratio of -208.55, a P/E/G ratio of 1.67 and a beta of 1.62. Beacon Roofing Supply has a 12-month low of $54.60 and a 12-month high of $99.11.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the business posted $1.18 earnings per share.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Beacon Roofing Supply by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 6,165,267 shares of the company’s stock valued at $536,502,000 after purchasing an additional 539,785 shares during the period. BlackRock Inc. boosted its position in shares of Beacon Roofing Supply by 3.6% during the 2nd quarter. BlackRock Inc. now owns 3,645,889 shares of the company’s stock worth $302,536,000 after purchasing an additional 125,602 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Beacon Roofing Supply by 4.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock valued at $144,131,000 after acquiring an additional 106,890 shares in the last quarter. American Century Companies Inc. lifted its position in 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 valued at $211,017,000 after acquiring an additional 233,393 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position in Beacon Roofing Supply by 40.3% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,417,307 shares of the company’s stock valued at $200,588,000 after acquiring an additional 694,876 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Beacon Roofing Supply
In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,805 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the sale, the insider now directly owns 10,531 shares in the company, valued at $1,000,445. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.95% of the stock is currently owned by corporate insiders.
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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