FY2017 EPS Estimates for Beacon Roofing Supply, Inc. (BECN) Lifted by Northcoast Research
Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities researchers at Northcoast Research boosted their FY2017 earnings estimates for Beacon Roofing Supply in a report released on Monday, according to Zacks Investment Research. Northcoast Research analyst K. Hocevar now expects that the company will earn $2.40 per share for the year, up from their prior forecast of $2.35. Northcoast Research also issued estimates for Beacon Roofing Supply’s FY2018 earnings at $2.70 EPS.
Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Thursday, May 4th. The company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.02. The business had revenue of $870.70 million for the quarter, compared to analyst estimates of $814.74 million. Beacon Roofing Supply had a return on equity of 9.99% and a net margin of 2.49%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 EPS. ILLEGAL ACTIVITY NOTICE: “FY2017 EPS Estimates for Beacon Roofing Supply, Inc. (BECN) Lifted by Northcoast Research” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another website, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/05/19/beacon-roofing-supply-inc-forecasted-to-earn-fy2017-earnings-of-2-40-per-share-becn-updated.html.
A number of other equities analysts also recently weighed in on the company. Royal Bank of Canada boosted their price target on Beacon Roofing Supply from $51.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday. Citigroup Inc reaffirmed a “buy” rating and issued a $52.00 target price (up previously from $48.00) on shares of Beacon Roofing Supply in a research report on Thursday, May 11th. William Blair reissued a “neutral” rating and set a $45.00 price target on shares of Beacon Roofing Supply in a research report on Friday, April 14th. Zacks Investment Research upgraded Beacon Roofing Supply from a “sell” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Thursday, April 13th. Finally, Jefferies Group LLC restated a “hold” rating and set a $46.00 target price on shares of Beacon Roofing Supply in a research note on Friday, March 17th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $51.89.
Beacon Roofing Supply (NASDAQ:BECN) traded up 0.56% during mid-day trading on Tuesday, reaching $48.32. The company’s stock had a trading volume of 32,467 shares. The stock has a market cap of $2.91 billion, a PE ratio of 29.48 and a beta of 1.31. The company has a 50 day moving average of $49.38 and a 200-day moving average of $46.82. 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. California State Teachers Retirement System increased its stake in shares of Beacon Roofing Supply by 0.8% in the third quarter. California State Teachers Retirement System now owns 126,623 shares of the company’s stock worth $5,327,000 after buying an additional 1,000 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Beacon Roofing Supply by 55.5% in the third quarter. Advisor Group Inc. now owns 3,596 shares of the company’s stock worth $151,000 after buying an additional 1,283 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Beacon Roofing Supply during the third quarter worth $427,000. BlackRock Institutional Trust Company N.A. increased its stake in shares of Beacon Roofing Supply by 3.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,590,258 shares of the company’s stock worth $66,902,000 after buying an additional 53,089 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Beacon Roofing Supply by 4.8% in the third quarter. Rhumbline Advisers now owns 72,122 shares of the company’s stock worth $3,034,000 after buying an additional 3,297 shares during the last quarter.
Beacon Roofing Supply Company Profile
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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