$2.00 Billion in Sales Expected for Beacon Roofing Supply, Inc. (BECN) This Quarter

Equities analysts forecast that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will post sales of $2.00 billion for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Beacon Roofing Supply’s earnings. The highest sales estimate is $2.03 billion and the lowest is $1.95 billion. Beacon Roofing Supply reported sales of $1.93 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The firm is expected to issue its next earnings report on Tuesday, August 6th.

On average, analysts expect that Beacon Roofing Supply will report full year sales of $7.20 billion for the current year, with estimates ranging from $7.17 billion to $7.28 billion. For the next financial year, analysts expect that the firm will report sales of $7.45 billion, with estimates ranging from $7.36 billion to $7.57 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Beacon Roofing Supply.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.45) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.06. Beacon Roofing Supply had a net margin of 0.41% and a return on equity of 10.76%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company earned ($0.35) earnings per share. The business’s revenue was up .2% compared to the same quarter last year.

A number of research firms have weighed in on BECN. ValuEngine downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th. BidaskClub downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. Royal Bank of Canada lifted their price target on shares of Beacon Roofing Supply to $40.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 9th. Wells Fargo & Co reiterated a “hold” rating on shares of Beacon Roofing Supply in a research note on Wednesday, May 8th. Finally, Wedbush reiterated a “neutral” rating and set a $33.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus target price of $40.41.

BECN traded down $1.09 during trading on Wednesday, reaching $34.76. 779,967 shares of the company’s stock were exchanged, compared to its average volume of 740,467. Beacon Roofing Supply has a fifty-two week low of $24.97 and a fifty-two week high of $46.26. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.27 and a quick ratio of 1.22. The company has a market capitalization of $2.42 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.17 and a beta of 1.47.

In other news, major shareholder Cd&R Investment Associates Ix, acquired 5,609,763 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $33.31 per share, with a total value of $186,861,205.53. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO C Eric Swank sold 5,250 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $38.14, for a total value of $200,235.00. Following the sale, the chief operating officer now directly owns 34,949 shares of the company’s stock, valued at $1,332,954.86. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

A number of large investors have recently made changes to their positions in BECN. Iridian Asset Management LLC CT bought a new stake in Beacon Roofing Supply during the 1st quarter worth about $104,384,000. Marshall Wace North America L.P. bought a new stake in Beacon Roofing Supply during the 1st quarter worth about $36,419,000. Dimensional Fund Advisors LP raised its holdings in Beacon Roofing Supply by 27.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,907,782 shares of the company’s stock worth $123,954,000 after purchasing an additional 849,333 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Beacon Roofing Supply during the 4th quarter worth about $25,887,000. Finally, Norges Bank acquired a new position in shares of Beacon Roofing Supply during the 4th quarter worth about $23,992,000.

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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