Beacon Roofing Supply, Inc. (BECN) Expected to Post Quarterly Sales of $1.66 Billion

Equities research analysts expect Beacon Roofing Supply, Inc. (NASDAQ:BECN) to report $1.66 billion in sales for the current quarter, according to Zacks. Nine analysts have issued estimates for Beacon Roofing Supply’s earnings. The lowest sales estimate is $1.53 billion and the highest is $1.73 billion. Beacon Roofing Supply posted sales of $1.12 billion during the same quarter last year, which would indicate a positive year over year growth rate of 48.2%. The business is expected to announce its next earnings results on Thursday, February 14th.

According to Zacks, analysts expect that Beacon Roofing Supply will report full year sales of $7.13 billion for the current year, with estimates ranging from $7.02 billion to $7.19 billion. For the next fiscal year, analysts expect that the firm will post sales of $7.38 billion, with estimates ranging from $7.17 billion to $7.54 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Beacon Roofing Supply.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Monday, November 19th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was up 50.4% on a year-over-year basis.

Several equities research analysts recently issued reports on the company. BidaskClub upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Wednesday. Wedbush cut Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Friday, December 14th. Longbow Research cut Beacon Roofing Supply from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a report on Wednesday, November 28th. Stephens reiterated a “buy” rating and issued a $40.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 23rd. Finally, Wells Fargo & Co upgraded Beacon Roofing Supply from an “underperform” rating to a “market perform” rating and set a $32.00 price objective on the stock in a report on Wednesday, November 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.13.

In other Beacon Roofing Supply news, CEO Paul Isabella acquired 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The shares were purchased at an average cost of $31.76 per share, for a total transaction of $101,632.00. Following the completion of the acquisition, the chief executive officer now owns 143,459 shares of the company’s stock, valued at approximately $4,556,257.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher Anthony Harrison acquired 4,750 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The stock was acquired at an average price of $31.40 per share, for a total transaction of $149,150.00. Following the completion of the acquisition, the executive vice president now directly owns 19,280 shares of the company’s stock, valued at approximately $605,392. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 23,625 shares of company stock worth $753,469. Insiders own 0.77% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Csenge Advisory Group acquired a new position in Beacon Roofing Supply in the third quarter valued at approximately $27,000. Paradigm Asset Management Co. LLC acquired a new position in Beacon Roofing Supply in the third quarter valued at approximately $51,000. Advisors Asset Management Inc. lifted its holdings in Beacon Roofing Supply by 1,809.4% in the second quarter. Advisors Asset Management Inc. now owns 61,196 shares of the company’s stock valued at $119,000 after acquiring an additional 57,991 shares during the last quarter. Cim Investment Mangement Inc. acquired a new position in Beacon Roofing Supply in the third quarter valued at approximately $205,000. Finally, Jane Street Group LLC acquired a new position in Beacon Roofing Supply in the second quarter valued at approximately $226,000.

BECN stock opened at $34.16 on Friday. 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 12-month low of $24.97 and a 12-month high of $63.92. The stock has a market capitalization of $2.37 billion, a P/E ratio of 12.65, a PEG ratio of 0.59 and a beta of 1.37.

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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