Equities Analysts Offer Predictions for Beacon Roofing Supply, Inc.’s FY2017 Earnings (BECN)
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.
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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.
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