Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Research analysts at SunTrust Banks upped their Q3 2018 EPS estimates for shares of Beacon Roofing Supply in a report released on Monday. SunTrust Banks analyst K. Hughes now forecasts that the company will post earnings per share of $1.24 for the quarter, up from their previous estimate of $0.93. 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 FY2018 earnings at $3.16 EPS.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Monday, November 20th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.01). Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year.
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A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “hold” rating to a “strong-buy” rating and set a $68.00 price target on the stock in a report on Thursday. Robert W. Baird restated an “outperform” rating and set a $70.00 price target (up previously from $55.00) on shares of Beacon Roofing Supply in a report on Tuesday. Royal Bank Of Canada restated an “outperform” rating and set a $63.00 price target (up previously from $62.00) on shares of Beacon Roofing Supply in a report on Tuesday. Wedbush restated a “neutral” rating and set a $46.00 price target (down previously from $52.00) on shares of Beacon Roofing Supply in a report on Friday, November 17th. Finally, Wells Fargo & Company assumed coverage on shares of Beacon Roofing Supply in a report on Wednesday, October 18th. They set a “market perform” rating and a $58.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Beacon Roofing Supply has an average rating of “Buy” and a consensus price target of $56.58.
Beacon Roofing Supply (BECN) traded up $0.38 during mid-day trading on Thursday, hitting $59.36. 1,148,900 shares of the stock were exchanged, compared to its average volume of 508,408. Beacon Roofing Supply has a twelve month low of $39.57 and a twelve month high of $60.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.06 and a quick ratio of 1.36. The firm has a market capitalization of $4,020.72, a price-to-earnings ratio of 27.35, a P/E/G ratio of 0.85 and a beta of 1.45.
A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its stake in Beacon Roofing Supply by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 197,664 shares of the company’s stock valued at $10,130,000 after buying an additional 3,073 shares during the period. GSA Capital Partners LLP acquired a new position in Beacon Roofing Supply in the 3rd quarter valued at approximately $214,000. Sterling Capital Management LLC increased its stake in Beacon Roofing Supply by 3.0% in the 3rd quarter. Sterling Capital Management LLC now owns 45,951 shares of the company’s stock valued at $2,355,000 after buying an additional 1,353 shares during the period. DF Dent & Co. Inc. increased its stake in Beacon Roofing Supply by 61.9% in the 3rd quarter. DF Dent & Co. Inc. now owns 24,599 shares of the company’s stock valued at $1,261,000 after buying an additional 9,409 shares during the period. Finally, California Public Employees Retirement System increased its stake in Beacon Roofing Supply by 3.2% in the 3rd quarter. California Public Employees Retirement System now owns 95,997 shares of the company’s stock valued at $4,920,000 after buying an additional 2,997 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.
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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