Trading Report: Today, Beacon Roofing Supply Inc. (BECN) Forecasted to Earn Q1 2017 Earnings of $0.48 Per Share

Today, Beacon Roofing Supply Inc. (BECN) Forecasted to Earn Q1 2017 Earnings of $0.48 Per Share

Beacon Roofing Supply Inc. (NASDAQ:BECN) – Equities research analysts at Jefferies Group reduced their Q1 2017 earnings per share (EPS) estimates for Beacon Roofing Supply in a report issued on Tuesday. Jefferies Group analyst P. Ng now forecasts that the firm will post earnings per share of $0.48 for the quarter, down from their previous forecast of $0.50. Jefferies Group currently has a “Hold” rating and a $46.00 target price on the stock. Jefferies Group also issued estimates for Beacon Roofing Supply’s Q3 2017 earnings at $0.84 EPS, Q4 2017 earnings at $1.02 EPS, FY2017 earnings at $2.29 EPS and FY2018 earnings at $2.68 EPS.

BECN has been the topic of a number of other reports. Zacks Investment Research cut Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Royal Bank Of Canada reduced their price objective on Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday. Wedbush reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, September 6th. Robert W. Baird reduced their price objective on Beacon Roofing Supply from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $51.00 price objective (down previously from $54.00) on shares of Beacon Roofing Supply in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Beacon Roofing Supply has an average rating of “Buy” and a consensus price target of $48.90.

Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at 46.51 on Thursday. The company has a 50-day moving average price of $43.50 and a 200-day moving average price of $44.25. Beacon Roofing Supply has a 52 week low of $32.24 and a 52 week high of $48.96. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 31.21 and a beta of 1.33.

In related news, Director Carl T. Berquist bought 5,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were purchased at an average price of $44.81 per share, with a total value of $224,050.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $224,050. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.15% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in BECN. Price T Rowe Associates Inc. MD increased its position 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. J.P. Marvel Investment Advisors LLC increased its position in Beacon Roofing Supply by 5.9% in the third quarter. J.P. Marvel Investment Advisors LLC now owns 148,380 shares of the company’s stock valued at $6,242,000 after buying an additional 8,230 shares in the last quarter. Credit Suisse AG increased its position in Beacon Roofing Supply by 0.7% in the third quarter. Credit Suisse AG now owns 151,173 shares of the company’s stock valued at $6,361,000 after buying an additional 1,043 shares in the last quarter. PCJ Investment Counsel Ltd. increased its position in shares of Beacon Roofing Supply by 50.0% in the third quarter. PCJ Investment Counsel Ltd. now owns 45,000 shares of the company’s stock valued at $1,893,000 after buying an additional 15,000 shares during the period. Finally, Bell State Bank & Trust increased its position in shares of Beacon Roofing Supply by 4.3% in the third quarter. Bell State Bank & Trust now owns 7,578 shares of the company’s stock valued at $319,000 after buying an additional 315 shares during the period.

Beacon Roofing Supply Company Profile

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