Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Research analysts at SunTrust Banks cut their FY2017 EPS estimates for shares of Beacon Roofing Supply in a note issued to investors on Monday. SunTrust Banks analyst K. Hughes now anticipates that the company will post earnings of $2.17 per share for the year, down from their prior forecast of $2.20. SunTrust Banks has a “Buy” rating and a $55.00 price objective on the stock. SunTrust Banks also issued estimates for Beacon Roofing Supply’s Q4 2017 earnings at $0.92 EPS.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $58.00 target price on shares of Beacon Roofing Supply in a research note on Monday, July 24th. BidaskClub downgraded Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Citigroup Inc. lifted their target price on Beacon Roofing Supply from $48.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, August 28th. Finally, KeyCorp upgraded Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 target price on the stock in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $52.55.

WARNING: This article was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/10/05/equities-analysts-offer-predictions-for-beacon-roofing-supply-inc-s-fy2017-earnings-becn.html.

Shares of Beacon Roofing Supply (BECN) opened at 52.91 on Tuesday. The company has a 50-day moving average price of $47.50 and a 200-day moving average price of $48.01. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 31.42 and a beta of 1.32. Beacon Roofing Supply has a 12 month low of $39.57 and a 12 month high of $53.01.

Beacon Roofing Supply (NASDAQ:BECN) last issued its 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). The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. Beacon Roofing Supply’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC lifted its holdings in shares of Beacon Roofing Supply by 10.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after buying an additional 176,659 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $312,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Beacon Roofing Supply by 27.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 194,591 shares of the company’s stock valued at $9,535,000 after buying an additional 41,654 shares during the period. 1st Global Advisors Inc. lifted its holdings in shares of Beacon Roofing Supply by 0.8% in the 2nd quarter. 1st Global Advisors Inc. now owns 9,836 shares of the company’s stock valued at $482,000 after buying an additional 76 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $383,000. 91.22% of the stock is owned by institutional investors and hedge funds.

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.

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

Receive News & Stock Ratings for Beacon Roofing Supply Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply Inc. and related stocks with our FREE daily email newsletter.