Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Research analysts at SunTrust Banks increased their Q3 2018 earnings per share estimates for shares of Beacon Roofing Supply in a report released on Thursday. SunTrust Banks analyst K. Hughes now anticipates that the company will post earnings per share of $1.44 for the quarter, up from their prior forecast of $1.24. SunTrust Banks currently has a “Buy” rating and a $62.00 target price on the stock. SunTrust Banks also issued estimates for Beacon Roofing Supply’s Q4 2018 earnings at $1.40 EPS.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.14. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.10 billion. Beacon Roofing Supply had a return on equity of 10.15% and a net margin of 3.29%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share.

BECN has been the topic of several other reports. Zacks Investment Research lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 22nd. Royal Bank of Canada set a $66.00 price objective on Beacon Roofing Supply and gave the company a “buy” rating in a research note on Friday. Jefferies Group reiterated a “buy” rating and set a $73.00 price objective on shares of Beacon Roofing Supply in a research note on Wednesday, January 17th. BidaskClub lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Wells Fargo & Co assumed coverage on Beacon Roofing Supply in a research note on Wednesday, October 18th. They set a “market perform” rating and a $58.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Beacon Roofing Supply has a consensus rating of “Buy” and a consensus target price of $59.91.

Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at $55.07 on Monday. The stock has a market capitalization of $3,743.05, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 1.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.06 and a quick ratio of 1.35. Beacon Roofing Supply has a one year low of $39.57 and a one year high of $66.47.

A number of hedge funds and other institutional investors have recently made changes to their positions in BECN. Jennison Associates LLC increased its stake in Beacon Roofing Supply by 502.2% in the 3rd quarter. Jennison Associates LLC now owns 1,683,096 shares of the company’s stock worth $86,259,000 after acquiring an additional 1,403,608 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in Beacon Roofing Supply by 108.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 2,362,015 shares of the company’s stock worth $121,053,000 after acquiring an additional 1,228,625 shares during the last quarter. Bamco Inc. NY bought a new position in Beacon Roofing Supply in the 3rd quarter worth about $61,982,000. Baird Financial Group Inc. bought a new position in Beacon Roofing Supply in the 4th quarter worth about $41,928,000. Finally, Stephens Investment Management Group LLC bought a new position in Beacon Roofing Supply in the 3rd quarter worth about $32,333,000.

In other Beacon Roofing Supply news, CEO Paul Isabella sold 40,000 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $60.57, for a total value of $2,422,800.00. Following the transaction, the chief executive officer now directly owns 172,046 shares in the company, valued at approximately $10,420,826.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ross D. Cooper sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total value of $119,500.00. Following the completion of the transaction, the executive vice president now owns 7,056 shares in the company, valued at $421,596. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.

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Beacon Roofing Supply Company Profile

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.

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

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