Builders FirstSource, Inc. (NYSE:BLDR) to Post Q1 2023 Earnings of $1.61 Per Share, Zacks Research Forecasts

Builders FirstSource, Inc. (NYSE:BLDR – Get Rating) – Analysts at Zacks Research boosted their Q1 2023 earnings per share estimates for Builders FirstSource in a research note issued to investors on Tuesday, March 14th. Zacks Research analyst A. Gupta now forecasts that the company will post earnings per share of $1.61 for the quarter, up from their prior estimate of $1.60. The consensus estimate for Builders FirstSource’s current full-year earnings is $7.14 per share. Zacks Research also issued estimates for Builders FirstSource’s Q2 2023 earnings at $2.21 EPS, Q4 2023 earnings at $1.27 EPS, FY2023 earnings at $7.07 EPS, Q1 2024 earnings at $1.71 EPS, Q2 2024 earnings at $1.95 EPS, Q3 2024 earnings at $1.93 EPS, Q4 2024 earnings at $1.53 EPS and FY2024 earnings at $7.12 EPS.

Several other research analysts have also recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Builders FirstSource from $67.00 to $78.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 1st. Benchmark increased their price objective on Builders FirstSource from $95.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, March 1st. Truist Financial upped their price target on Builders FirstSource from $85.00 to $97.00 in a research note on Wednesday, March 1st. DA Davidson lifted their price target on Builders FirstSource from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, March 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Builders FirstSource from $90.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, March 3rd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Builders FirstSource currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

Builders FirstSource Stock Performance

BLDR opened at $80.09 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 0.60. The firm’s fifty day simple moving average is $78.95 and its two-hundred day simple moving average is $67.67. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 4.81 and a beta of 1.98. Builders FirstSource has a 52-week low of $48.91 and a 52-week high of $90.21.

Builders FirstSource (NYSE:BLDR – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported $3.21 EPS for the quarter, beating the consensus estimate of $2.37 by $0.84. Builders FirstSource had a net margin of 12.10% and a return on equity of 59.80%. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same period in the prior year, the company earned $2.78 earnings per share. The firm’s revenue was down 6.0% on a year-over-year basis.

Hedge Funds Weigh In On Builders FirstSource

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP raised its position in shares of Builders FirstSource by 14.8% in the 1st quarter. Wellington Management Group LLP now owns 11,277,012 shares of the company’s stock valued at $727,819,000 after buying an additional 1,455,580 shares in the last quarter. Norges Bank bought a new stake in shares of Builders FirstSource in the 4th quarter valued at $91,288,000. Boston Partners lifted its position in shares of Builders FirstSource by 4,346.5% during the 4th quarter. Boston Partners now owns 1,116,833 shares of the company’s stock valued at $72,430,000 after acquiring an additional 1,091,716 shares during the period. AQR Capital Management LLC lifted its position in shares of Builders FirstSource by 100.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,092,221 shares of the company’s stock valued at $108,000,000 after acquiring an additional 1,049,896 shares during the period. Finally, Coliseum Capital Management LLC raised its holdings in Builders FirstSource by 16.4% during the second quarter. Coliseum Capital Management LLC now owns 6,462,850 shares of the company’s stock worth $347,055,000 after buying an additional 909,392 shares during the last quarter. 94.71% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Company Profile

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Builders FirstSource, Inc engages in the supply and manufacture of building materials, manufactured components and construction services to professional homebuilders, subcontractors, remodelers and consumers. Its products include factory-built roof and floor trusses, wall panels and stairs, vinyl windows, custom millwork and trim, and engineered wood.