Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities research analysts at William Blair lifted their Q1 2018 earnings per share estimates for shares of Beacon Roofing Supply in a note issued to investors on Thursday. William Blair analyst R. Merkel now expects that the company will post earnings of $0.62 per share for the quarter, up from their previous estimate of $0.50.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $1.27 billion. During the same period last year, the firm earned $0.77 EPS. Beacon Roofing Supply’s revenue was up 5.3% compared to the same quarter last year.

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A number of other research firms also recently weighed in on BECN. Royal Bank Of Canada boosted their price target on shares of Beacon Roofing Supply from $51.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, May 8th. Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, July 5th. Citigroup Inc. reaffirmed a “buy” rating and issued a $52.00 target price (up previously from $48.00) on shares of Beacon Roofing Supply in a research note on Thursday, May 11th. Wedbush reaffirmed a “neutral” rating and issued a $47.00 target price on shares of Beacon Roofing Supply in a research note on Wednesday, May 31st. Finally, BidaskClub downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $51.60.

Shares of Beacon Roofing Supply (BECN) opened at 46.34 on Monday. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 27.52 and a beta of 1.32. The company has a 50-day moving average price of $44.85 and a 200-day moving average price of $47.44. Beacon Roofing Supply has a 1-year low of $39.50 and a 1-year high of $52.12.

Several large investors have recently modified their holdings of BECN. SG Americas Securities LLC bought a new stake in shares of Beacon Roofing Supply during the second quarter valued at about $100,000. Advisors Asset Management Inc. increased its stake 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 valued at $103,000 after buying an additional 565 shares in the last quarter. Lloyds Banking Group plc bought a new stake in shares of Beacon Roofing Supply during the first quarter valued at about $131,000. Huntington National Bank increased its stake 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 valued at $154,000 after buying an additional 116 shares in the last quarter. Finally, Advisor Group Inc. increased its stake in shares of Beacon Roofing Supply by 8.9% in the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock valued at $190,000 after buying an additional 316 shares in the last quarter.

About Beacon Roofing Supply

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)

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