Beacon Roofing Supply, Inc. (BECN) Expected to Announce Quarterly Sales of $1.42 Billion

Analysts forecast that Beacon Roofing Supply, Inc. (NASDAQ:BECN) will report $1.42 billion in sales for the current quarter, according to Zacks. Ten analysts have made estimates for Beacon Roofing Supply’s earnings. The highest sales estimate is $1.46 billion and the lowest is $1.35 billion. Beacon Roofing Supply reported sales of $870.72 million during the same quarter last year, which indicates a positive year over year growth rate of 63.1%. The business is scheduled to issue its next quarterly earnings results on Thursday, May 3rd.

On average, analysts expect that Beacon Roofing Supply will report full year sales of $1.42 billion for the current year, with estimates ranging from $6.69 billion to $6.80 billion. For the next year, analysts expect that the business will post sales of $7.70 billion per share, with estimates ranging from $7.60 billion to $7.84 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Beacon Roofing Supply.

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Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 8th. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.14. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. Beacon Roofing Supply had a return on equity of 9.60% and a net margin of 3.29%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS.

A number of brokerages have weighed in on BECN. Wedbush reaffirmed an “outperform” rating and issued a $52.00 target price (down previously from $70.00) on shares of Beacon Roofing Supply in a report on Tuesday, February 13th. Zacks Investment Research downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Monday, January 22nd. Citigroup reduced their target price on Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. BidaskClub downgraded Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 14th. Finally, Royal Bank of Canada set a $66.00 target price on Beacon Roofing Supply and gave the company a “buy” rating in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $60.45.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. Zions Bancorporation acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter valued at $124,000. Cerebellum GP LLC acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at $130,000. Macquarie Group Ltd. acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at $147,000. CAPROCK Group Inc. acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at $212,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter valued at $214,000.

Shares of BECN stock traded down $2.01 during trading hours on Wednesday, reaching $51.38. The company’s stock had a trading volume of 779,291 shares, compared to its average volume of 736,982. The company has a market cap of $3,631.12, a PE ratio of 24.49, a P/E/G ratio of 0.46 and a beta of 1.38. Beacon Roofing Supply has a fifty-two week low of $39.57 and a fifty-two week high of $66.47. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.58 and a current ratio of 4.60.

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Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.

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

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