Equities Analysts Issue Forecasts for Beacon Roofing Supply Inc.’s FY2016 Earnings (BECN)
Beacon Roofing Supply Inc. (NASDAQ:BECN) – Wedbush issued their FY2016 EPS estimates for Beacon Roofing Supply in a research note issued to investors on Tuesday. Wedbush analyst A. Kaschalk expects that the firm will post earnings of $2.10 per share for the year. Wedbush has a “Neutral” rating and a $50.00 price objective on the stock. Wedbush also issued estimates for Beacon Roofing Supply’s Q4 2016 earnings at $0.89 EPS, Q1 2017 earnings at $0.48 EPS, Q2 2017 earnings at $0.03 EPS, Q3 2017 earnings at $0.85 EPS, Q4 2017 earnings at $1.00 EPS, FY2017 earnings at $2.36 EPS, FY2018 earnings at $2.69 EPS, FY2019 earnings at $3.01 EPS and FY2020 earnings at $3.27 EPS.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. Beacon Roofing Supply had a return on equity of 9.66% and a net margin of 1.96%. The company’s quarterly revenue was up 60.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 earnings per share.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, June 28th. BB&T Corp. raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Friday, June 10th. Jefferies Group started coverage on shares of Beacon Roofing Supply in a report on Wednesday, July 6th. They issued a “hold” rating and a $46.00 target price for the company. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, July 6th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Beacon Roofing Supply currently has an average rating of “Buy” and an average price target of $48.44.
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Shares of Beacon Roofing Supply (NASDAQ:BECN) traded down 2.207% on Friday, reaching $43.645. The company had a trading volume of 241,378 shares. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 34.339 and a beta of 1.39. Beacon Roofing Supply has a 52 week low of $32.02 and a 52 week high of $48.96. The stock’s 50 day moving average is $46.44 and its 200 day moving average is $43.43.
In related news, Chairman Robert R. Buck sold 17,556 shares of the stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $45.37, for a total value of $796,515.72. Following the completion of the transaction, the chairman now owns 31,545 shares of the company’s stock, valued at approximately $1,431,196.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carl T. Berquist purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was acquired at an average cost of $44.81 per share, with a total value of $224,050.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $224,050. The disclosure for this purchase can be found here. 1.15% of the stock is currently owned by corporate insiders.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States. The Company operates in the wholesale distribution of building materials segment. The Company distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.
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