Beacon Roofing Supply, Inc. (NASDAQ:BECN) Expected to Post Quarterly Sales of $1.43 Billion

Wall Street brokerages expect Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) to announce sales of $1.43 billion for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Beacon Roofing Supply’s earnings, with the lowest sales estimate coming in at $1.38 billion and the highest estimate coming in at $1.47 billion. Beacon Roofing Supply posted sales of $1.32 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.3%. The company is expected to issue its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Beacon Roofing Supply will report full-year sales of $7.32 billion for the current financial year, with estimates ranging from $7.18 billion to $7.50 billion. For the next financial year, analysts forecast that the firm will post sales of $7.62 billion, with estimates ranging from $7.38 billion to $8.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Beacon Roofing Supply.

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last issued its earnings results on Thursday, February 3rd. The company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.09. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Beacon Roofing Supply had a net margin of 3.56% and a return on equity of 23.98%.

Several brokerages recently weighed in on BECN. StockNews.com began coverage on shares of Beacon Roofing Supply in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Wells Fargo & Company raised their target price on shares of Beacon Roofing Supply from $59.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, April 21st. Robert W. Baird increased their price target on shares of Beacon Roofing Supply from $72.00 to $74.00 in a research note on Tuesday, April 12th. Truist Financial dropped their price target on shares of Beacon Roofing Supply from $58.00 to $55.00 in a research note on Monday, February 7th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 20th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of “Hold” and an average target price of $62.22.

In related news, insider Clement Munroe Best III sold 4,000 shares of Beacon Roofing Supply stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $63.00, for a total value of $252,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Cd&R Investment Associates Ix, acquired 102,219 shares of the stock in a transaction that occurred on Friday, April 29th. The stock was purchased at an average price of $58.70 per share, for a total transaction of $6,000,255.30. Following the completion of the transaction, the insider now owns 14,755,648 shares in the company, valued at $866,156,537.60. The disclosure for this purchase can be found here. Company insiders own 0.95% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Ellevest Inc. lifted its holdings in Beacon Roofing Supply by 1,193.9% in the first quarter. Ellevest Inc. now owns 427 shares of the company’s stock valued at $25,000 after acquiring an additional 394 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Beacon Roofing Supply in the fourth quarter valued at $26,000. UBS Group AG lifted its holdings in Beacon Roofing Supply by 44.5% in the third quarter. UBS Group AG now owns 1,455 shares of the company’s stock valued at $69,000 after acquiring an additional 448 shares during the period. Gladius Capital Management LP acquired a new stake in Beacon Roofing Supply in the fourth quarter valued at $92,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Beacon Roofing Supply in the first quarter valued at $136,000.

NASDAQ:BECN traded down $0.82 during mid-day trading on Monday, hitting $59.63. The stock had a trading volume of 415,553 shares, compared to its average volume of 321,444. The stock has a 50-day simple moving average of $59.29 and a two-hundred day simple moving average of $56.44. The company has a market capitalization of $4.20 billion, a PE ratio of 22.33 and a beta of 1.91. Beacon Roofing Supply has a twelve month low of $46.62 and a twelve month high of $63.64. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 0.94.

Beacon Roofing Supply Company Profile (Get Rating)

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.

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