Todays Report: Today, Beacon Roofing Supply Inc. to Post Q2 2017 Earnings of ($0.03) Per Share, William Blair Forecasts (BECN)

Today, Beacon Roofing Supply Inc. to Post Q2 2017 Earnings of ($0.03) Per Share, William Blair Forecasts (BECN)

Beacon Roofing Supply Inc. (NASDAQ:BECN) – Research analysts at William Blair issued their Q2 2017 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a note issued to investors on Tuesday. William Blair analyst R. Merkel forecasts that the firm will post earnings per share of ($0.03) for the quarter.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Monday, November 21st. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by $0.03. The firm earned $1.17 billion during the quarter, compared to the consensus estimate of $1.28 billion. Beacon Roofing Supply had a net margin of 2.18% and a return on equity of 10.26%. The business’s revenue was up 49.1% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share.

A number of other brokerages also recently issued reports on BECN. Royal Bank Of Canada reduced their price objective on shares of Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday. Jefferies Group reissued a “hold” rating and set a $46.00 target price on shares of Beacon Roofing Supply in a research report on Wednesday. Zacks Investment Research raised shares of Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research report on Friday, November 18th. RBC Capital Markets reissued an “outperform” rating and set a $51.00 target price (down from $54.00) on shares of Beacon Roofing Supply in a research report on Tuesday. Finally, Wedbush reissued a “neutral” rating and set a $50.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, September 6th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $48.90.

Beacon Roofing Supply (NASDAQ:BECN) opened at 46.08 on Thursday. Beacon Roofing Supply has a 52 week low of $32.24 and a 52 week high of $48.96. The company has a 50-day moving average of $43.40 and a 200-day moving average of $44.22. The company has a market capitalization of $2.76 billion, a PE ratio of 30.93 and a beta of 1.33.

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Beacon Roofing Supply by 7.9% in the second quarter. Vanguard Group Inc. now owns 4,232,769 shares of the company’s stock valued at $192,465,000 after buying an additional 310,795 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in Beacon Roofing Supply by 38.8% in the second quarter. Frontier Capital Management Co. LLC now owns 3,457,287 shares of the company’s stock valued at $157,203,000 after buying an additional 967,076 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Beacon Roofing Supply by 5.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,381,205 shares of the company’s stock valued at $100,177,000 after buying an additional 127,498 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Beacon Roofing Supply by 2.6% in the third quarter. BlackRock Fund Advisors now owns 1,884,508 shares of the company’s stock valued at $79,281,000 after buying an additional 47,928 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in Beacon Roofing Supply by 58.3% in the second quarter. Citadel Advisors LLC now owns 1,744,032 shares of the company’s stock valued at $79,301,000 after buying an additional 642,273 shares in the last quarter.

In other news, Director Carl T. Berquist bought 5,000 shares of the stock in a transaction on Wednesday, September 7th. The shares were acquired at an average cost of $44.81 per share, for a total transaction of $224,050.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $224,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.15% of the stock is currently owned by company insiders.

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