Trade Report: Today, Q2 2017 Earnings Forecast for Beacon Roofing Supply Inc. (BECN) Issued By Wedbush

Today, Q2 2017 Earnings Forecast for Beacon Roofing Supply Inc. (BECN) Issued By Wedbush

Beacon Roofing Supply Inc. (NASDAQ:BECN) – Wedbush upped their Q2 2017 earnings estimates for shares of Beacon Roofing Supply in a research report issued to clients and investors on Tuesday. Wedbush analyst A. Kaschalk now expects that the firm will earn $0.08 per share for the quarter, up from their prior forecast of $0.03. Wedbush has a “Neutral” rating and a $50.00 price objective on the stock.

A number of other analysts also recently commented on the stock. Jefferies Group reiterated a “hold” rating and issued a $46.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday. Robert W. Baird cut their price objective 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. RBC Capital Markets reiterated an “outperform” rating and issued a $51.00 price objective (down previously from $54.00) on shares of Beacon Roofing Supply in a report on Tuesday. Royal Bank Of Canada cut 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 report on Tuesday. Finally, Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “sell” rating to a “hold” rating in a report on Friday, November 18th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $48.90.

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

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

Hedge funds have recently made changes to their positions in the company. Cortina Asset Management LLC increased its stake in shares of Beacon Roofing Supply by 134.1% in the second quarter. Cortina Asset Management LLC now owns 659,824 shares of the company’s stock worth $30,002,000 after buying an additional 377,971 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of 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 worth $157,203,000 after buying an additional 967,076 shares in the last quarter. RS Investment Management Co. LLC purchased a new stake in shares of Beacon Roofing Supply during the second quarter worth about $23,097,000. Aberdeen Asset Management PLC UK increased its stake in shares of Beacon Roofing Supply by 95.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 509,664 shares of the company’s stock worth $23,175,000 after buying an additional 249,091 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in shares of Beacon Roofing Supply by 12.6% in the second quarter. Eagle Asset Management Inc. now owns 71,009 shares of the company’s stock worth $3,228,000 after buying an additional 7,959 shares in the last quarter.

In other news, Director Carl T. Berquist purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was acquired at an average price of $44.81 per share, for a total transaction of $224,050.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $224,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.15% of the company’s stock.

About Beacon Roofing Supply

Related posts

Leave a Comment