Beacon Roofing Supply, Inc. Expected to Post Q2 2021 Earnings of $0.11 Per Share (NASDAQ:BECN) – MarketBeat

Beacon Roofing Supply, Inc. (NASDAQ:BECN) - Equities researchers at Jefferies Financial Group raised their Q2 2021 earnings per share estimates for shares of Beacon Roofing Supply in a research report issued on Tuesday, February 9th. Jefferies Financial Group analyst P. Ng now forecasts that the company will post earnings of $0.11 per share for the quarter, up from their prior estimate of ($0.12). Jefferies Financial Group also issued estimates for Beacon Roofing Supply's Q3 2021 earnings at $1.12 EPS, Q4 2021 earnings at $1.35 EPS, FY2021 earnings at $3.61 EPS and FY2022 earnings at $4.46 EPS. Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Sunday, February 7th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.60 by $0.55. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.70 billion. Beacon Roofing Supply had a positive return on equity of 10.89% and a negative net margin of 1.16%. The firm's revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS.

Other research analysts also recently issued reports about the company. Longbow Research upgraded Beacon Roofing Supply from a "neutral" rating to a "buy" rating and set a $60.00 price objective for the company in a research note on Tuesday, January 26th. Truist boosted their price objective on Beacon Roofing Supply from $43.00 to $49.00 in a research note on Tuesday. Zacks Investment Research downgraded Beacon Roofing Supply from a "buy" rating to a "hold" rating and set a $45.00 price target for the company. in a research note on Friday, January 22nd. Deutsche Bank Aktiengesellschaft upped their price target on Beacon Roofing Supply from $41.00 to $44.00 in a research note on Tuesday, December 22nd. Finally, BMO Capital Markets upgraded Beacon Roofing Supply from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $47.00 to $53.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company's stock. The stock currently has a consensus rating of "Buy" and a consensus target price of $38.16.

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Shares of NASDAQ:BECN opened at $46.63 on Friday. The stock has a 50 day moving average of $41.76 and a 200 day moving average of $35.94. The company has a market cap of $3.24 billion, a PE ratio of -28.26 and a beta of 1.97. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 1.56. Beacon Roofing Supply has a 12-month low of $11.66 and a 12-month high of $48.48.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. boosted its position in shares of Beacon Roofing Supply by 12.8% during the 3rd quarter. Sei Investments Co. now owns 204,449 shares of the company's stock valued at $6,352,000 after acquiring an additional 23,138 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Beacon Roofing Supply during the 3rd quarter valued at approximately $2,135,000. Contravisory Investment Management Inc. bought a new position in shares of Beacon Roofing Supply during the 4th quarter valued at approximately $165,000. UBS Asset Management Americas Inc. boosted its position in shares of Beacon Roofing Supply by 9.7% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 78,699 shares of the company's stock valued at $2,445,000 after acquiring an additional 6,930 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Beacon Roofing Supply during the 3rd quarter valued at approximately $257,000.

Beacon Roofing Supply Company Profile

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, and retailers. 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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Beacon Roofing Supply, Inc. Expected to Post Q2 2021 Earnings of $0.11 Per Share (NASDAQ:BECN) - MarketBeat