Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Analysts at Northcoast Research reduced their Q2 2018 earnings per share estimates for Beacon Roofing Supply in a research report issued to clients and investors on Monday. Northcoast Research analyst K. Hocevar now forecasts that the company will post earnings of ($0.11) per share for the quarter, down from their prior estimate of ($0.02). Northcoast Research also issued estimates for Beacon Roofing Supply’s FY2018 earnings at $3.55 EPS and FY2019 earnings at $4.65 EPS.

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

Several other brokerages have also issued reports on BECN. BidaskClub lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Jefferies Group reissued a “buy” rating and set a $73.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday, January 17th. Zacks Investment Research downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report 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 report on Friday, February 9th. Finally, Robert W. Baird reissued an “outperform” rating and set a $70.00 price objective (up previously from $55.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $60.45.

Beacon Roofing Supply (NASDAQ:BECN) opened at $54.43 on Wednesday. Beacon Roofing Supply has a 52 week low of $39.57 and a 52 week high of $66.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06. The company has a market capitalization of $3,712.73, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Nicholas Investment Partners LP acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at about $12,330,000. Tocqueville Asset Management L.P. lifted its stake in shares of Beacon Roofing Supply by 28.7% in the 4th quarter. Tocqueville Asset Management L.P. now owns 10,100 shares of the company’s stock valued at $644,000 after purchasing an additional 2,250 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Beacon Roofing Supply by 30.2% in the 4th quarter. Renaissance Technologies LLC now owns 760,457 shares of the company’s stock valued at $48,487,000 after purchasing an additional 176,400 shares during the period. Invictus RG acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at about $320,000. Finally, USA Financial Portformulas Corp acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at about $393,000. 99.69% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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

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