Builders FirstSource Inc. Expected to Post Q1 2017 Earnings of $0.15 Per Share (BLDR)
Builders FirstSource Inc. (NASDAQ:BLDR) – Equities research analysts at SunTrust Banks raised their Q1 2017 earnings estimates for Builders FirstSource in a research report issued on Friday. SunTrust Banks analyst K. Hughes now forecasts that the brokerage will post earnings of $0.15 per share for the quarter, up from their prior estimate of $0.13. SunTrust Banks also issued estimates for Builders FirstSource’s Q2 2017 earnings at $0.55 EPS, Q4 2017 earnings at $0.40 EPS and FY2017 earnings at $1.61 EPS.
Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.05. The company earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Builders FirstSource had a negative net margin of 0.12% and a positive return on equity of 38.21%. The business’s revenue for the quarter was up 263.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS.
Several other research firms have also weighed in on BLDR. Zacks Investment Research upgraded shares of Builders FirstSource from a “strong sell” rating to a “hold” rating in a research note on Monday, July 18th. Wedbush reiterated an “outperform” rating and set a $18.00 target price on shares of Builders FirstSource in a research note on Tuesday, September 6th. Citigroup Inc. boosted their target price on shares of Builders FirstSource from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Builders FirstSource in a research note on Tuesday, June 28th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Builders FirstSource currently has an average rating of “Buy” and an average price target of $15.00.
Builders FirstSource (NASDAQ:BLDR) opened at 11.35 on Monday. Builders FirstSource has a 12-month low of $6.50 and a 12-month high of $15.72. The firm’s 50-day moving average is $12.50 and its 200 day moving average is $11.96. The stock’s market capitalization is $1.25 billion.
In other news, insider Morris E. Tolly sold 50,000 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $12.43, for a total transaction of $621,500.00. Following the sale, the insider now owns 216,890 shares in the company, valued at $2,695,942.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Floyd F. Sherman sold 235,753 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $12.39, for a total value of $2,920,979.67. Following the sale, the chief executive officer now owns 559,963 shares in the company, valued at approximately $6,937,941.57. The disclosure for this sale can be found here. Insiders own 36.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in BLDR. Legal & General Group Plc boosted its stake in shares of Builders FirstSource by 84.3% in the first quarter. Legal & General Group Plc now owns 9,282 shares of the company’s stock valued at $101,000 after buying an additional 4,247 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Builders FirstSource during the second quarter valued at approximately $122,000. BB&T Securities LLC acquired a new stake in shares of Builders FirstSource during the second quarter valued at approximately $127,000. BlackRock Inc. boosted its stake in shares of Builders FirstSource by 193.3% in the second quarter. BlackRock Inc. now owns 11,392 shares of the company’s stock valued at $128,000 after buying an additional 7,508 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Builders FirstSource by 35.5% in the second quarter. Teacher Retirement System of Texas now owns 12,319 shares of the company’s stock valued at $139,000 after buying an additional 3,226 shares during the last quarter. Institutional investors own 83.04% of the company’s stock.
Builders FirstSource Company Profile
Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors and consumers. The Company’s operating segments include Northeast, Southeast, South and West. It offers solution to its customers providing manufacturing, supply and installation of a range of structural and related building products.
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