Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) – Zacks Research boosted their Q2 2024 earnings per share (EPS) estimates for Beacon Roofing Supply in a report released on Monday, March 18th. Zacks Research analyst S. Mukherjee now anticipates that the company will earn $2.73 per share for the quarter, up from their previous forecast 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.
Several other equities research analysts have also weighed in on BECN. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. cut 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 report on Monday, January 8th. StockNews.com upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus upped their price objective on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.45.
Read Our Latest Research Report on Beacon Roofing Supply
Beacon Roofing Supply Price Performance
Shares of BECN opened at $92.70 on Tuesday. Beacon Roofing Supply has a twelve month low of $54.60 and a twelve month high of $92.81. The company has a 50 day moving average of $85.58 and a two-hundred day moving average of $81.29. 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 company has a market cap of $5.88 billion, a price-to-earnings ratio of -197.23, a price-to-earnings-growth ratio of 1.56 and a beta of 1.62.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the company posted $1.18 EPS. Beacon Roofing Supply’s revenue for the quarter was up 16.8% on a year-over-year basis.
Hedge Funds Weigh In On Beacon Roofing Supply
Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust purchased a new stake in shares of Beacon Roofing Supply in the second quarter valued at $27,000. PNC Financial Services Group Inc. grew its holdings in Beacon Roofing Supply by 145.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after acquiring an additional 203 shares during the period. Quarry LP lifted its position in shares of Beacon Roofing Supply by 127.1% in the 4th quarter. Quarry LP now owns 402 shares of the company’s stock valued at $35,000 after acquiring an additional 225 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Beacon Roofing Supply during the 4th quarter worth $36,000. Finally, Advisor Group Holdings Inc. boosted its holdings in Beacon Roofing Supply by 37.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the period.
About Beacon Roofing Supply
(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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