Analysts expect that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will announce sales of $1.26 billion for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Beacon Roofing Supply’s earnings, with estimates ranging from $1.23 billion to $1.28 billion. Beacon Roofing Supply posted sales of $1.17 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 7.7%. The company is scheduled to issue its next earnings results after the market closes on Monday, November 20th.

On average, analysts expect that Beacon Roofing Supply will report full-year sales of $1.26 billion for the current fiscal year, with estimates ranging from $4.32 billion to $4.37 billion. For the next financial year, analysts forecast that the company will report sales of $4.62 billion per share, with estimates ranging from $4.57 billion to $4.65 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Beacon Roofing Supply.

A number of equities analysts recently issued reports on BECN shares. Citigroup Inc. upped their price target on shares of Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, August 28th. KeyCorp upgraded shares of Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research note on Friday, August 25th. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price target on the stock in a research note on Tuesday, October 3rd. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Beacon Roofing Supply in a research note on Tuesday, September 12th. Finally, Wells Fargo & Company started coverage on shares of Beacon Roofing Supply in a research note on Wednesday, October 18th. They issued a “market perform” rating and a $58.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $53.17.

Beacon Roofing Supply (NASDAQ BECN) opened at $55.17 on Friday. The stock has a market cap of $3,696.30, a PE ratio of 26.13, a P/E/G ratio of 2.54 and a beta of 1.45. Beacon Roofing Supply has a one year low of $39.57 and a one year high of $56.36. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.30 and a quick ratio of 1.36.

A number of large investors have recently modified their holdings of the business. 1st Global Advisors Inc. raised its position in Beacon Roofing Supply by 0.8% in the 2nd quarter. 1st Global Advisors Inc. now owns 9,836 shares of the company’s stock worth $482,000 after buying an additional 76 shares during the last quarter. Huntington National Bank raised its position in Beacon Roofing Supply by 3.8% in the 2nd quarter. Huntington National Bank now owns 3,138 shares of the company’s stock worth $154,000 after buying an additional 116 shares during the last quarter. Advisor Group Inc. raised its position in Beacon Roofing Supply by 8.9% in the 2nd quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after buying an additional 316 shares during the last quarter. Amalgamated Bank raised its position in Beacon Roofing Supply by 5.1% in the 2nd quarter. Amalgamated Bank now owns 7,704 shares of the company’s stock worth $377,000 after buying an additional 373 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in Beacon Roofing Supply by 1.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 29,235 shares of the company’s stock worth $1,433,000 after buying an additional 395 shares during the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

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About Beacon Roofing Supply

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

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Earnings History and Estimates for Beacon Roofing Supply (NASDAQ:BECN)

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