Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) – Zacks Research boosted their Q2 2024 earnings per share estimates for Beacon Roofing Supply in a note issued to investors on Monday, March 18th. Zacks Research analyst S. Mukherjee now expects that the company will earn $2.73 per share for the quarter, up from their previous estimate of $2.55. 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 Q1 2025 earnings at $1.44 EPS and Q2 2025 earnings at $2.68 EPS.
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Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last issued its quarterly 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 return on equity of 26.95% and a net margin of 4.74%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the company earned $1.18 EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year.
Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus upped their target price on Beacon Roofing Supply from $115.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. JPMorgan Chase & Co. dropped their price target 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. TheStreet upgraded Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Finally, Robert W. Baird upgraded Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and increased their price target for the company from $99.00 to $115.00 in a research note on Thursday, February 29th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.45.
Read Our Latest Analysis on Beacon Roofing Supply
Beacon Roofing Supply Stock Down 0.1 %
NASDAQ BECN opened at $88.33 on Tuesday. The business has a fifty day moving average price of $85.48 and a two-hundred day moving average price of $81.21. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.85 and a quick ratio of 1.06. Beacon Roofing Supply has a fifty-two week low of $54.60 and a fifty-two week high of $90.62. The stock has a market capitalization of $5.60 billion, a PE ratio of -187.94, a PEG ratio of 1.53 and a beta of 1.62.
Institutional Trading of Beacon Roofing Supply
Several large investors have recently made changes to their positions in BECN. Vanguard Group Inc. boosted its stake in Beacon Roofing Supply by 9.6% during the 4th 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 last quarter. Goldman Sachs Group Inc. boosted its stake in Beacon Roofing Supply by 11.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 602,287 shares of the company’s stock valued at $52,411,000 after purchasing an additional 62,690 shares during the last quarter. American International Group Inc. boosted its stake in Beacon Roofing Supply by 7.0% during the 4th quarter. American International Group Inc. now owns 28,836 shares of the company’s stock valued at $2,509,000 after purchasing an additional 1,890 shares during the last quarter. Virtu Financial LLC acquired a new position in Beacon Roofing Supply during the 4th quarter valued at about $711,000. Finally, Chicago Partners Investment Group LLC acquired a new position in Beacon Roofing Supply during the 4th quarter valued at about $218,000.
Insiders Place Their Bets
In other news, insider Jason L. Taylor sold 1,806 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $88.75, for a total value of $160,282.50. Following the completion of the sale, the insider now directly owns 11,178 shares in the company, valued at approximately $992,047.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.95% of the company’s stock.
Beacon Roofing Supply Company Profile
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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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