Today, Brokers Set Expectations for Beacon Roofing Supply Inc.’s Q1 2017 Earnings (BECN)

Today, Brokers Set Expectations for Beacon Roofing Supply Inc.’s Q1 2017 Earnings (BECN)
Beacon Roofing Supply Inc. (NASDAQ:BECN) – Analysts at SunTrust Banks decreased their Q1 2017 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a research report issued on Tuesday. SunTrust Banks analyst K. Hughes now forecasts that the firm will post earnings of $0.34 per share for the quarter, down from their previous estimate of $0.39. SunTrust Banks also issued estimates for Beacon Roofing Supply’s Q2 2017 earnings at ($0.13) EPS, Q3 2017 earnings at $0.91 EPS and FY2017 earnings at $2.32 EPS.

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

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

Beacon Roofing Supply (NASDAQ:BECN) opened at 46.51 on Thursday. The company’s 50-day moving average is $43.50 and its 200-day moving average is $44.25. Beacon Roofing Supply has a one year low of $32.24 and a one year high of $48.96. The firm has a market cap of $2.78 billion, a PE ratio of 31.21 and a beta of 1.33.

In other news, Director Carl T. Berquist bought 5,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was acquired 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 of the company’s stock, valued at approximately $224,050. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.15% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in BECN. Price T Rowe Associates Inc. MD increased 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 worth $100,177,000 after buying an additional 127,498 shares in the last quarter. J.P. Marvel Investment Advisors LLC increased its stake 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 worth $6,242,000 after buying an additional 8,230 shares in the last quarter. Credit Suisse AG increased its stake in Beacon Roofing Supply by 0.7% in the third quarter. Credit Suisse AG now owns 151,173 shares of the company’s stock worth $6,361,000 after buying an additional 1,043 shares in the last quarter. PCJ Investment Counsel Ltd. increased its stake in Beacon Roofing Supply by 50.0% in the third quarter. PCJ Investment Counsel Ltd. now owns 45,000 shares of the company’s stock worth $1,893,000 after buying an additional 15,000 shares in the last quarter. Finally, Bell State Bank & Trust increased its stake in Beacon Roofing Supply by 4.3% in the third quarter. Bell State Bank & Trust now owns 7,578 shares of the company’s stock worth $319,000 after buying an additional 315 shares in the last quarter.

Beacon Roofing Supply Company Profile

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