Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities research analysts at Jefferies Financial Group cut their Q1 2020 earnings per share (EPS) estimates for Beacon Roofing Supply in a report released on Wednesday, November 27th. Jefferies Financial Group analyst P. Ng now forecasts that the company will earn $0.47 per share for the quarter, down from their prior forecast of $0.83. Jefferies Financial Group also issued estimates for Beacon Roofing Supply’s Q2 2020 earnings at ($0.19) EPS and FY2020 earnings at $2.86 EPS.
Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Monday, November 25th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.17). Beacon Roofing Supply had a negative net margin of 0.15% and a positive return on equity of 9.55%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the business posted $1.07 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year.
Shares of NASDAQ:BECN opened at $28.69 on Monday. Beacon Roofing Supply has a 52 week low of $26.50 and a 52 week high of $40.00. The stock has a market capitalization of $2.03 billion, a P/E ratio of 12.69, a PEG ratio of 1.08 and a beta of 1.37. The firm has a fifty day simple moving average of $32.43 and a two-hundred day simple moving average of $33.65. The company has a quick ratio of 1.04, a current ratio of 1.75 and a debt-to-equity ratio of 1.39.
In other news, Director Richard W. Frost acquired 3,000 shares of Beacon Roofing Supply stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average cost of $30.05 per share, with a total value of $90,150.00. Following the transaction, the director now directly owns 37,249 shares of the company’s stock, valued at approximately $1,119,332.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cd&R Investment Associates Ix, acquired 3,207,200 shares of Beacon Roofing Supply stock in a transaction that occurred on Wednesday, September 25th. The stock was purchased at an average cost of $32.08 per share, for a total transaction of $102,886,976.00. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of BECN. Griffin Asset Management Inc. bought a new stake in shares of Beacon Roofing Supply during the 2nd quarter worth approximately $37,000. Point72 Hong Kong Ltd boosted its holdings in Beacon Roofing Supply by 13,564.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,913 shares of the company’s stock valued at $70,000 after acquiring an additional 1,899 shares during the period. Strs Ohio grew its position in Beacon Roofing Supply by 65.0% in the 2nd quarter. Strs Ohio now owns 3,300 shares of the company’s stock valued at $121,000 after acquiring an additional 1,300 shares during the last quarter. Cim Investment Mangement Inc. bought a new position in Beacon Roofing Supply in the 2nd quarter valued at $202,000. Finally, Quantamental Technologies LLC grew its position in Beacon Roofing Supply by 229.0% in the 2nd quarter. Quantamental Technologies LLC now owns 6,395 shares of the company’s stock valued at $235,000 after acquiring an additional 4,451 shares during the last quarter.
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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