Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Northcoast Research raised their Q3 2017 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a research note issued to investors on Monday. Northcoast Research analyst K. Hocevar now forecasts that the company will post earnings per share of $0.91 for the quarter, up from their previous estimate of $0.90. Northcoast Research also issued estimates for Beacon Roofing Supply’s Q4 2017 earnings at $1.09 EPS.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, May 4th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Beacon Roofing Supply had a net margin of 2.49% and a return on equity of 9.99%. The firm had revenue of $870.70 million for the quarter, compared to analyst estimates of $814.74 million. During the same period last year, the firm posted $0.03 EPS. Beacon Roofing Supply’s quarterly revenue was up 5.7% on a year-over-year basis.
A number of other research analysts have also commented on the company. Royal Bank of Canada raised their price target on Beacon Roofing Supply from $51.00 to $58.00 and gave the company an “outperform” rating in a report on Monday. Zacks Investment Research raised Beacon Roofing Supply from a “sell” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Thursday, April 13th. William Blair reissued a “neutral” rating and set a $45.00 price target on shares of Beacon Roofing Supply in a report on Friday, April 14th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $46.00 price target on shares of Beacon Roofing Supply in a report on Monday, February 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Beacon Roofing Supply presently has a consensus rating of “Buy” and a consensus price target of $51.88.
Beacon Roofing Supply (NASDAQ:BECN) opened at 48.73 on Wednesday. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 29.73 and a beta of 1.31. The company has a 50-day moving average of $49.38 and a 200-day moving average of $46.50. Beacon Roofing Supply has a 52-week low of $39.50 and a 52-week high of $52.12.
A number of hedge funds and other institutional investors have recently made changes to their positions in BECN. Aberdeen Asset Management PLC UK boosted its position in shares of Beacon Roofing Supply by 71.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,691,125 shares of the company’s stock valued at $77,910,000 after buying an additional 702,319 shares in the last quarter. Norges Bank bought a new position in Beacon Roofing Supply during the fourth quarter worth $23,112,000. Frontier Capital Management Co. LLC raised its position in Beacon Roofing Supply by 10.3% in the fourth quarter. Frontier Capital Management Co. LLC now owns 4,211,066 shares of the company’s stock worth $194,004,000 after buying an additional 392,904 shares during the period. Park West Asset Management LLC bought a new position in Beacon Roofing Supply during the third quarter worth $8,414,000. Finally, Adage Capital Partners GP L.L.C. raised its position in Beacon Roofing Supply by 19.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,210,012 shares of the company’s stock worth $50,905,000 after buying an additional 193,788 shares during the period.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.
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