William Blair Weighs in on Beacon Roofing Supply Inc.’s Q2 2017 Earnings (BECN)
Beacon Roofing Supply Inc. (NASDAQ:BECN) – Analysts at William Blair issued their Q2 2017 EPS estimates for shares of Beacon Roofing Supply in a report released on Tuesday. William Blair analyst R. Merkel expects that the brokerage will post earnings per share of ($0.03) for the quarter.
Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Monday, November 21st. The company reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.91 by $0.03. The business earned $1.17 billion during the quarter, compared to the consensus estimate of $1.28 billion. Beacon Roofing Supply had a return on equity of 10.26% and a net margin of 2.18%. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share.
A number of other equities analysts have also recently issued reports on BECN. Wedbush reiterated a “neutral” rating and issued a $50.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, September 6th. Zacks Investment Research cut Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Royal Bank Of Canada cut their price objective on Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday. RBC Capital Markets reiterated an “outperform” rating and issued a $51.00 price objective (down from $54.00) on shares of Beacon Roofing Supply in a report on Tuesday. Finally, Robert W. Baird cut their price objective on Beacon Roofing Supply from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $48.90.
Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at 46.51 on Thursday. The firm has a 50-day moving average price of $43.50 and a 200-day moving average price of $44.25. Beacon Roofing Supply has a one year low of $32.24 and a one year high of $48.96. The company has a market capitalization of $2.78 billion, a P/E ratio of 31.21 and a beta of 1.33.
In other Beacon Roofing Supply news, Director Carl T. Berquist purchased 5,000 shares of the stock in a transaction on Wednesday, September 7th. The stock was acquired at an average price of $44.81 per share, with a total value of $224,050.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $224,050. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.15% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. Advisor Group Inc. acquired a new position in Beacon Roofing Supply during the second quarter worth approximately $105,000. Springbok Capital Management LLC raised its position in Beacon Roofing Supply by 275.5% in the first quarter. Springbok Capital Management LLC now owns 2,700 shares of the company’s stock worth $111,000 after buying an additional 1,981 shares during the last quarter. Glenmede Trust Co. NA raised its position in Beacon Roofing Supply by 2.8% in the second quarter. Glenmede Trust Co. NA now owns 3,151 shares of the company’s stock worth $143,000 after buying an additional 86 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Beacon Roofing Supply during the second quarter worth approximately $212,000. Finally, Virginia Retirement Systems ET AL acquired a new position in Beacon Roofing Supply during the third quarter worth approximately $273,000.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States. The Company operates in the wholesale distribution of building materials segment. The Company distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.
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