Q3 2017 Earnings Forecast for Builders FirstSource, Inc. (BLDR) Issued By Seaport Global Securities
Builders FirstSource, Inc. (NASDAQ:BLDR) – Investment analysts at Seaport Global Securities dropped their Q3 2017 earnings per share (EPS) estimates for shares of Builders FirstSource in a report released on Sunday. Seaport Global Securities analyst M. Mccall now anticipates that the company will post earnings per share of $0.40 for the quarter, down from their previous estimate of $0.51. Seaport Global Securities also issued estimates for Builders FirstSource’s Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $1.15 EPS and FY2018 earnings at $1.45 EPS.
Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut Builders FirstSource from a “buy” rating to a “hold” rating in a report on Monday, April 24th. Citigroup Inc. lifted their target price on Builders FirstSource from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, May 11th. Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price (up from $19.00) on shares of Builders FirstSource in a report on Wednesday, May 17th. BidaskClub raised Builders FirstSource from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $20.00 target price on shares of Builders FirstSource in a report on Tuesday, June 27th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.00.
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Builders FirstSource (NASDAQ BLDR) opened at 16.63 on Wednesday. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 11.62 and a beta of 2.16. The firm has a 50-day moving average price of $15.51 and a 200-day moving average price of $14.40. Builders FirstSource has a 52 week low of $9.04 and a 52 week high of $17.00.
Builders FirstSource (NASDAQ:BLDR) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Builders FirstSource had a return on equity of 43.83% and a net margin of 2.60%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 EPS.
In other news, insider Morris E. Tolly sold 50,268 shares of Builders FirstSource stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $14.81, for a total value of $744,469.08. Following the sale, the insider now directly owns 126,205 shares of the company’s stock, valued at $1,869,096.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Floyd F. Sherman sold 35,000 shares of Builders FirstSource stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $14.91, for a total value of $521,850.00. Following the completion of the sale, the chief executive officer now directly owns 633,635 shares in the company, valued at $9,447,497.85. The disclosure for this sale can be found here. Insiders own 14.60% of the company’s stock.
Several large investors have recently modified their holdings of BLDR. BlackRock Inc. boosted its stake in shares of Builders FirstSource by 68,569.7% in the first quarter. BlackRock Inc. now owns 6,349,196 shares of the company’s stock valued at $94,602,000 after buying an additional 6,339,950 shares during the period. Vanguard Group Inc. boosted its stake in shares of Builders FirstSource by 21.7% in the first quarter. Vanguard Group Inc. now owns 5,914,387 shares of the company’s stock valued at $88,124,000 after buying an additional 1,053,799 shares during the last quarter. Morgan Stanley boosted its stake in shares of Builders FirstSource by 185.2% in the first quarter. Morgan Stanley now owns 1,122,932 shares of the company’s stock valued at $16,732,000 after buying an additional 729,178 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Builders FirstSource during the first quarter valued at $8,552,000. Finally, Congress Asset Management Co. MA bought a new stake in shares of Builders FirstSource during the first quarter valued at $7,468,000. 84.81% of the stock is currently owned by hedge funds and other institutional investors.
About Builders FirstSource
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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