Equities Analysts Set Expectations for Beacon Roofing Supply, Inc.’s Q1 2019 Earnings (BECN)

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Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities researchers at Wedbush upped their Q1 2019 earnings estimates for Beacon Roofing Supply in a report issued on Tuesday, November 20th, according to Zacks Investment Research. Wedbush analyst J. Mccanless now forecasts that the company will post earnings per share of $0.93 for the quarter, up from their prior forecast of $0.82. Wedbush currently has a “Outperform” rating and a $30.00 price target on the stock. Wedbush also issued estimates for Beacon Roofing Supply’s Q3 2019 earnings at $1.28 EPS.

Several other equities research analysts also recently commented on the stock. Longbow Research downgraded shares of Beacon Roofing Supply from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Wednesday, November 28th. BidaskClub upgraded shares of Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. Stephens restated a “buy” rating and issued a $40.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 23rd. Wells Fargo & Co upgraded shares of Beacon Roofing Supply from an “underperform” rating to a “market perform” rating and set a $32.00 price target on the stock in a research report on Wednesday, November 21st. Finally, Jefferies Financial Group dropped their price target on shares of Beacon Roofing Supply from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, November 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $41.13.

NASDAQ:BECN opened at $32.97 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.97 and a current ratio of 1.59. Beacon Roofing Supply has a one year low of $24.97 and a one year high of $66.47. The company has a market cap of $2.25 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 0.55 and a beta of 1.48.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Monday, November 19th. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.29). Beacon Roofing Supply had a return on equity of 11.23% and a net margin of 1.54%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. The firm’s quarterly revenue was up 50.4% on a year-over-year basis.

In related news, Director Richard W. Frost acquired 10,675 shares of the stock in a transaction dated Wednesday, November 21st. The stock was bought at an average price of $31.61 per share, for a total transaction of $337,436.75. Following the purchase, the director now directly owns 22,495 shares of the company’s stock, valued at approximately $711,066.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul Isabella acquired 3,200 shares of the stock in a transaction dated Wednesday, November 21st. The stock was bought at an average price of $31.76 per share, with a total value of $101,632.00. Following the purchase, the chief executive officer now directly owns 143,459 shares in the company, valued at $4,556,257.84. The disclosure for this purchase can be found here. Insiders bought a total of 23,625 shares of company stock valued at $753,469 in the last quarter. 0.77% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Beacon Roofing Supply by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,993,864 shares of the company’s stock valued at $216,918,000 after purchasing an additional 96,227 shares in the last quarter. BlackRock Inc. increased its stake in Beacon Roofing Supply by 1.3% during the 2nd quarter. BlackRock Inc. now owns 5,024,154 shares of the company’s stock valued at $214,131,000 after purchasing an additional 65,371 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in Beacon Roofing Supply by 15.5% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,748,239 shares of the company’s stock valued at $135,649,000 after purchasing an additional 502,149 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Beacon Roofing Supply by 11.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,058,449 shares of the company’s stock valued at $110,687,000 after purchasing an additional 315,299 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in Beacon Roofing Supply by 28.2% during the 3rd quarter. Jennison Associates LLC now owns 2,862,115 shares of the company’s stock valued at $103,580,000 after purchasing an additional 629,593 shares in the last quarter.

About Beacon Roofing Supply

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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