Beacon Roofing Supply (BECN) Updates Q2 Earnings Guidance

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Beacon Roofing Supply (NASDAQ:BECN) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of ($0.55-0.45) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.25).

A number of brokerages have weighed in on BECN. BidaskClub cut shares of Beacon Roofing Supply from a hold rating to a sell rating in a research report on Thursday, March 14th. ValuEngine cut shares of Beacon Roofing Supply from a sell rating to a strong sell rating in a research report on Monday, March 11th. Buckingham Research began coverage on shares of Beacon Roofing Supply in a research note on Monday, February 25th. They set a neutral rating and a $38.00 price objective on the stock. Royal Bank of Canada set a $37.00 price objective on shares of Beacon Roofing Supply and gave the company a hold rating in a research note on Friday, February 8th. Finally, Raymond James set a $45.00 price objective on shares of Beacon Roofing Supply and gave the company a buy rating in a research note on Friday, February 8th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. Beacon Roofing Supply currently has an average rating of Hold and a consensus price target of $40.29.

BECN stock traded up $0.79 during trading on Monday, hitting $34.11. 740,226 shares of the company’s stock traded hands, compared to its average volume of 770,808. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.43 and a quick ratio of 1.35. Beacon Roofing Supply has a 52 week low of $24.97 and a 52 week high of $55.01. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 0.51 and a beta of 1.44.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, February 7th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Beacon Roofing Supply had a net margin of 0.43% and a return on equity of 11.19%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, analysts expect that Beacon Roofing Supply will post 3.13 EPS for the current fiscal year.

In related news, major shareholder Cd&R Investment Associates Ix, acquired 5,609,763 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $33.31 per share, with a total value of $186,861,205.53. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

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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 solar systems.

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

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