Beacon Roofing Supply Inc. (NASDAQ:BECN) – Northcoast Research lowered their Q2 2017 earnings estimates for shares of Beacon Roofing Supply in a report issued on Wednesday. Northcoast Research analyst K. Hocevar now anticipates that the firm will earn ($0.07) per share for the quarter, down from their prior forecast of ($0.03).

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Monday, November 21st. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.91 by $0.03. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Beacon Roofing Supply had a return on equity of 10.07% 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 business earned $0.75 earnings per share. TRADEMARK VIOLATION WARNING: This story was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another domain, it was stolen and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be read at https://www.thecerbatgem.com/2016/11/29/beacon-roofing-supply-inc-becn-expected-to-post-q2-2017-earnings-of-0-07-per-share.html.

Earnings History and Estimates for Beacon Roofing Supply (NASDAQ:BECN)

Several other research analysts have also recently weighed in on BECN. Jefferies Group restated a “hold” rating and set a $46.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, November 23rd. Robert W. Baird lowered their target price on Beacon Roofing Supply from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Tuesday, November 22nd. Zacks Investment Research upgraded Beacon Roofing Supply from a “sell” rating to a “hold” rating in a report on Friday, November 18th. Royal Bank Of Canada lowered their target price on Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, November 22nd. Finally, RBC Capital Markets restated an “outperform” rating and set a $51.00 target price (down from $54.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 22nd. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Beacon Roofing Supply has an average rating of “Buy” and an average price target of $48.90.

Beacon Roofing Supply (NASDAQ:BECN) opened at 46.13 on Monday. The firm’s 50-day moving average price is $43.60 and its 200 day moving average price is $44.30. The stock has a market capitalization of $2.76 billion, a P/E ratio of 30.96 and a beta of 1.33. Beacon Roofing Supply has a 12-month low of $32.24 and a 12-month high of $48.96.

In other news, Director Carl T. Berquist bought 5,000 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were bought at an average price of $44.81 per share, with a total value of $224,050.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $224,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.15% of the stock is owned by company insiders.

TRADEMARK VIOLATION WARNING: This story was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another domain, it was stolen and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be read at https://www.thecerbatgem.com/2016/11/29/beacon-roofing-supply-inc-becn-expected-to-post-q2-2017-earnings-of-0-07-per-share.html.

Several hedge funds have recently bought and sold shares of the company. Advisor Group Inc. bought a new stake in Beacon Roofing Supply during the second quarter worth $105,000. Springbok Capital Management LLC raised its stake 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 in the last quarter. Glenmede Trust Co. NA raised its stake 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 in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Beacon Roofing Supply during the second quarter worth $212,000. Finally, Amalgamated Bank raised its stake in Beacon Roofing Supply by 19.2% in the second quarter. Amalgamated Bank now owns 6,319 shares of the company’s stock worth $288,000 after buying an additional 1,016 shares in the last quarter.

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.

5 Day Chart for NASDAQ:BECN

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