$1.45 Billion in Sales Expected for Beacon Roofing Supply, Inc. (BECN) This Quarter

Brokerages predict that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will announce sales of $1.45 billion for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Beacon Roofing Supply’s earnings, with estimates ranging from $1.41 billion to $1.49 billion. Beacon Roofing Supply posted sales of $1.43 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1.4%. The firm is expected to report its next quarterly earnings results on Tuesday, May 14th.

According to Zacks, analysts expect that Beacon Roofing Supply will report full-year sales of $7.13 billion for the current financial year, with estimates ranging from $7.02 billion to $7.23 billion. For the next year, analysts anticipate that the business will post sales of $7.38 billion, with estimates ranging from $7.17 billion to $7.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Beacon Roofing Supply.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, February 7th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Beacon Roofing Supply had a net margin of 0.43% and a return on equity of 11.25%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The firm’s quarterly revenue was up 53.5% on a year-over-year basis.

Several brokerages recently issued reports on BECN. BidaskClub lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Saturday. Royal Bank of Canada set a $37.00 target price on shares of Beacon Roofing Supply and gave the company a “hold” rating in a research report on Friday. Raymond James set a $45.00 target price on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research report on Friday. SunTrust Banks restated a “buy” rating and set a $44.00 target price on shares of Beacon Roofing Supply in a research report on Friday. Finally, Wedbush boosted their target price on shares of Beacon Roofing Supply from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. Beacon Roofing Supply currently has an average rating of “Hold” and a consensus target price of $40.44.

In related news, Director Richard W. Frost bought 10,675 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The stock was purchased at an average price of $31.61 per share, for a total transaction of $337,436.75. Following the completion of the transaction, the director now owns 22,495 shares in the company, valued at $711,066.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl T. Berquist bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The shares were bought at an average price of $33.05 per share, with a total value of $165,250.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $330,500. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 23,625 shares of company stock valued at $753,469. Company insiders own 1.20% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Strs Ohio boosted its position in shares of Beacon Roofing Supply by 42.1% during the fourth quarter. Strs Ohio now owns 2,700 shares of the company’s stock worth $85,000 after acquiring an additional 800 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Beacon Roofing Supply by 0.5% during the fourth quarter. Eagle Asset Management Inc. now owns 199,720 shares of the company’s stock worth $6,335,000 after acquiring an additional 917 shares during the last quarter. Csenge Advisory Group bought a new position in shares of Beacon Roofing Supply during the third quarter worth $27,000. First Personal Financial Services bought a new position in shares of Beacon Roofing Supply during the fourth quarter worth $33,000. Finally, IFP Advisors Inc boosted its position in shares of Beacon Roofing Supply by 107.6% during the fourth quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock worth $65,000 after acquiring an additional 1,076 shares during the last quarter.

NASDAQ BECN traded up $1.16 during trading hours on Monday, hitting $35.05. 2,208,652 shares of the company’s stock traded hands, compared to its average volume of 859,952. The company has a current ratio of 1.59, a quick ratio of 0.97 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 0.58 and a beta of 1.42. Beacon Roofing Supply has a 52 week low of $24.97 and a 52 week high of $57.19.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.

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Earnings History and Estimates for Beacon Roofing Supply (NASDAQ:BECN)

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