Analysts Set Expectations for Beacon Roofing Supply, Inc.’s FY2017 Earnings (BECN)
Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities researchers at Northcoast Research issued their FY2017 earnings estimates for Beacon Roofing Supply in a research note issued to investors on Monday. Northcoast Research analyst K. Hocevar expects that the company will earn $2.20 per share for the year. Northcoast Research also issued estimates for Beacon Roofing Supply’s Q4 2017 earnings at $0.94 EPS and FY2018 earnings at $2.50 EPS.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the company posted $0.77 EPS. Beacon Roofing Supply’s quarterly revenue was up 5.3% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “Analysts Set Expectations for Beacon Roofing Supply, Inc.’s FY2017 Earnings (BECN)” was first posted by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/10/analysts-set-expectations-for-beacon-roofing-supply-inc-s-fy2017-earnings-becn.html.
Several other research analysts have also recently commented on BECN. Zacks Investment Research raised Beacon Roofing Supply from a “sell” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Thursday, April 13th. William Blair reissued a “neutral” rating and issued a $45.00 target price on shares of Beacon Roofing Supply in a report on Friday, April 14th. Royal Bank Of Canada boosted their target price on Beacon Roofing Supply from $51.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, May 8th. Citigroup Inc. reissued a “buy” rating and issued a $52.00 target price (up from $48.00) on shares of Beacon Roofing Supply in a report on Thursday, May 11th. Finally, Wedbush reissued a “neutral” rating and issued a $47.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $50.50.
Shares of Beacon Roofing Supply (BECN) opened at 43.12 on Thursday. The company has a market cap of $2.60 billion, a P/E ratio of 25.61 and a beta of 1.32. Beacon Roofing Supply has a 12 month low of $39.50 and a 12 month high of $52.12. The company’s 50-day moving average price is $47.15 and its 200-day moving average price is $47.75.
Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Beacon Roofing Supply during the second quarter worth about $100,000. Advisors Asset Management Inc. increased 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 during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of Beacon Roofing Supply by 2,200.0% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,300 shares of the company’s stock worth $114,000 after buying an additional 2,200 shares during the period. Lloyds Banking Group plc acquired a new position in shares of Beacon Roofing Supply during the first quarter worth about $131,000. Finally, Huntington National Bank increased 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 during the period.
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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