Jefferies Financial Group Comments on Beacon Roofing Supply, Inc.’s Q3 2019 Earnings (BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Research analysts at Jefferies Financial Group decreased their Q3 2019 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a note issued to investors on Wednesday, May 8th. Jefferies Financial Group analyst P. Ng now anticipates that the company will earn $1.36 per share for the quarter, down from their previous forecast of $1.41. Jefferies Financial Group also issued estimates for Beacon Roofing Supply’s Q4 2019 earnings at $1.39 EPS, FY2019 earnings at $3.03 EPS and FY2020 earnings at $3.61 EPS.

Other research analysts also recently issued reports about the stock. BidaskClub raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Wednesday, February 20th. Raymond James set a $45.00 target price on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a research report on Friday, February 8th. SunTrust Banks reaffirmed a “buy” rating and issued a $44.00 target price on shares of Beacon Roofing Supply in a research report on Friday, February 8th. Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Monday, February 4th. Finally, Royal Bank of Canada set a $37.00 target price on shares of Beacon Roofing Supply and gave the stock a “hold” rating in a research report on Friday, February 8th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $40.41.

Shares of Beacon Roofing Supply stock opened at $38.27 on Monday. The company has a current ratio of 2.27, a quick ratio of 1.35 and a debt-to-equity ratio of 1.62. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 0.82 and a beta of 1.47. Beacon Roofing Supply has a 12-month low of $24.97 and a 12-month high of $46.26.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.06. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. Beacon Roofing Supply had a net margin of 0.41% and a return on equity of 10.76%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) EPS.

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 5,609,763 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $33.31 per share, with a total value of $186,861,205.53. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in BECN. Iridian Asset Management LLC CT bought a new position in Beacon Roofing Supply in the 1st quarter worth about $104,384,000. Marshall Wace North America L.P. bought a new position in Beacon Roofing Supply in the 1st quarter worth about $36,419,000. Dimensional Fund Advisors LP boosted its stake in Beacon Roofing Supply by 27.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,907,782 shares of the company’s stock worth $123,954,000 after purchasing an additional 849,333 shares in the last quarter. Victory Capital Management Inc. bought a new position in Beacon Roofing Supply in the 4th quarter worth about $25,887,000. Finally, Norges Bank bought a new position in Beacon Roofing Supply in the 4th quarter worth about $23,992,000.

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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