Q1 2018 EPS Estimates for Beacon Roofing Supply, Inc. (BECN) Boosted by William Blair
Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities researchers at William Blair lifted their Q1 2018 EPS estimates for Beacon Roofing Supply in a research report issued on Thursday. William Blair analyst R. Merkel now expects that the company will post earnings of $0.62 per share for the quarter, up from their prior forecast of $0.50.
BECN has been the topic of several other research reports. BidaskClub cut Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Jefferies Group LLC upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $54.00 in a research report on Friday. Wedbush reiterated a “neutral” rating and set a $47.00 target price on shares of Beacon Roofing Supply in a research report on Wednesday, May 31st. Royal Bank Of Canada reiterated a “buy” rating and set a $58.00 target price on shares of Beacon Roofing Supply in a research report on Monday, July 24th. Finally, KeyCorp upgraded Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus price target of $51.60.
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Beacon Roofing Supply (NASDAQ BECN) opened at 46.25 on Monday. The stock has a market capitalization of $2.79 billion, a PE ratio of 27.46 and a beta of 1.32. The company has a 50-day moving average price of $44.85 and a 200-day moving average price of $47.44. Beacon Roofing Supply has a 12-month low of $39.50 and a 12-month high of $52.12.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.06. Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the firm posted $0.77 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis.
A number of large investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in Beacon Roofing Supply during the second quarter worth about $100,000. Advisors Asset Management Inc. raised its position in shares of Beacon Roofing Supply by 36.7% in the second quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock worth $103,000 after buying an additional 565 shares in the last quarter. Lloyds Banking Group plc acquired a new position in shares of Beacon Roofing Supply during the first quarter worth $131,000. Huntington National Bank raised its position in shares of Beacon Roofing Supply by 3.8% in the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock worth $154,000 after buying an additional 116 shares in the last quarter. Finally, Advisor Group Inc. raised its position in shares of Beacon Roofing Supply by 8.9% in the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after buying an additional 316 shares in 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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