Builders FirstSource, Inc. (BLDR) Expected to Post Quarterly Sales of $1.69 Billion
Wall Street brokerages expect that Builders FirstSource, Inc. (NASDAQ:BLDR) will post sales of $1.69 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Builders FirstSource’s earnings, with estimates ranging from $1.66 billion to $1.70 billion. Builders FirstSource posted sales of $1.55 billion in the same quarter last year, which would indicate a positive year over year growth rate of 9%. The company is expected to announce its next earnings results on Tuesday, February 27th.
On average, analysts expect that Builders FirstSource will report full-year sales of $1.69 billion for the current financial year, with estimates ranging from $6.91 billion to $6.98 billion. For the next year, analysts anticipate that the company will report sales of $7.43 billion per share, with estimates ranging from $7.34 billion to $7.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Builders FirstSource.
Builders FirstSource (NASDAQ:BLDR) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. Builders FirstSource had a net margin of 1.29% and a return on equity of 33.66%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis.
Several brokerages recently commented on BLDR. B. Riley reissued a “buy” rating on shares of Builders FirstSource in a research note on Wednesday, November 1st. BidaskClub downgraded shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Deutsche Bank AG increased their price objective on shares of Builders FirstSource from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Builders FirstSource from a “sell” rating to a “hold” rating in a research note on Monday, November 13th. Finally, Barclays PLC increased their price objective on shares of Builders FirstSource from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $19.50.
In other Builders FirstSource news, insider M Chad Crow sold 158,384 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $18.24, for a total value of $2,888,924.16. Following the completion of the sale, the insider now directly owns 446,248 shares in the company, valued at $8,139,563.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert C. Griffin sold 17,655 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $16.83, for a total transaction of $297,133.65. Following the completion of the sale, the director now owns 40,050 shares of the company’s stock, valued at $674,041.50. The disclosure for this sale can be found here. Insiders sold 13,970,466 shares of company stock valued at $226,651,588 over the last 90 days. Corporate insiders own 14.60% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. FrontFour Capital Group LLC grew its holdings in Builders FirstSource by 1.6% in the third quarter. FrontFour Capital Group LLC now owns 560,923 shares of the company’s stock worth $10,091,000 after purchasing an additional 9,049 shares during the period. Insight Capital Research & Management Inc. acquired a new stake in Builders FirstSource in the third quarter worth $1,389,000. Piedmont Investment Advisors LLC acquired a new stake in Builders FirstSource in the third quarter worth $659,000. California Public Employees Retirement System grew its holdings in Builders FirstSource by 38.7% in the third quarter. California Public Employees Retirement System now owns 363,685 shares of the company’s stock worth $6,543,000 after purchasing an additional 101,385 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in Builders FirstSource in the third quarter worth $985,000. Institutional investors and hedge funds own 86.23% of the company’s stock.
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Builders FirstSource (NASDAQ BLDR) opened at $19.14 on Friday. The company has a market cap of $2,110.00, a P/E ratio of 17.74 and a beta of 2.14. The company has a debt-to-equity ratio of 4.46, a current ratio of 1.86 and a quick ratio of 1.06. Builders FirstSource has a 52 week low of $10.51 and a 52 week high of $19.37.
Builders FirstSource Company Profile
Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.
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