Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Research analysts at William Blair cut their FY2019 earnings estimates for Beacon Roofing Supply in a research report issued to clients and investors on Tuesday, August 6th. William Blair analyst R. Merkel now anticipates that the company will post earnings of $2.30 per share for the year, down from their prior estimate of $2.90. William Blair also issued estimates for Beacon Roofing Supply’s Q4 2019 earnings at $1.12 EPS, Q2 2020 earnings at ($0.40) EPS, Q3 2020 earnings at $1.04 EPS, Q4 2020 earnings at $1.22 EPS and FY2020 earnings at $2.65 EPS.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Tuesday, August 6th. The company reported $0.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.32). The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Beacon Roofing Supply had a net margin of 0.15% and a return on equity of 9.61%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 earnings per share.

BECN has been the subject of several other research reports. ValuEngine downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th. BidaskClub lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Stephens set a $37.00 price target on Beacon Roofing Supply and gave the company an “overweight” rating in a research report on Wednesday. SunTrust Banks set a $40.00 price target on Beacon Roofing Supply and gave the company a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Beacon Roofing Supply in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $35.87.

BECN traded up $0.32 during trading on Friday, hitting $29.09. 4,683 shares of the company traded hands, compared to its average volume of 461,647. Beacon Roofing Supply has a 1 year low of $24.97 and a 1 year high of $42.00. The company has a market cap of $2.39 billion, a P/E ratio of 10.66, a PEG ratio of 1.17 and a beta of 1.40. The stock has a 50-day moving average price of $35.85. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.22 and a current ratio of 2.27.

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 4,625,998 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $34.17 per share, with a total value of $158,070,351.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO C Eric Swank sold 5,250 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $38.14, for a total value of $200,235.00. Following the completion of the transaction, the chief operating officer now directly owns 34,949 shares of the company’s stock, valued at approximately $1,332,954.86. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in BECN. Investors Research Corp purchased a new stake in shares of Beacon Roofing Supply during the first quarter valued at $29,000. First Personal Financial Services lifted its stake in Beacon Roofing Supply by 45.6% in the 1st quarter. First Personal Financial Services now owns 1,508 shares of the company’s stock worth $48,000 after acquiring an additional 472 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Beacon Roofing Supply in the 1st quarter worth about $63,000. Hardy Reed LLC purchased a new stake in Beacon Roofing Supply in the 2nd quarter worth about $84,000. Finally, FNY Investment Advisers LLC purchased a new stake in Beacon Roofing Supply in the 1st quarter worth about $96,000.

About Beacon Roofing Supply

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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