Beacon Roofing Supply (BECN) Announces Quarterly Earnings Results

Beacon Roofing Supply (NASDAQ:BECN) posted its earnings results on Thursday. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.54 by $0.14, Bloomberg Earnings reports. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.10 billion. Beacon Roofing Supply had a return on equity of 9.09% and a net margin of 2.30%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. Beacon Roofing Supply updated its FY18 guidance to $3.40-3.70 EPS.

Shares of Beacon Roofing Supply (NASDAQ:BECN) traded down $3.06 on Thursday, hitting $55.09. The stock had a trading volume of 1,105,233 shares, compared to its average volume of 671,138. Beacon Roofing Supply has a 52 week low of $39.57 and a 52 week high of $66.47. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $4,021.03, a P/E ratio of 33.80, a price-to-earnings-growth ratio of 1.24 and a beta of 1.35.

In other news, CEO Paul Isabella sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the completion of the transaction, the chief executive officer now directly owns 172,046 shares in the company, valued at $10,420,826.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total value of $119,500.00. Following the transaction, the executive vice president now owns 7,056 shares of the company’s stock, valued at $421,596. The disclosure for this sale can be found here. 0.77% of the stock is owned by company insiders.

Several equities analysts have commented on BECN shares. Wedbush reiterated a “neutral” rating and issued a $46.00 target price (down from $52.00) on shares of Beacon Roofing Supply in a research report on Friday, November 17th. Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Tuesday, January 23rd. Robert W. Baird reiterated a “buy” rating and issued a $55.00 target price on shares of Beacon Roofing Supply in a research report on Thursday, October 12th. BidaskClub upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. Finally, KeyCorp reiterated a “buy” rating and issued a $56.00 target price on shares of Beacon Roofing Supply in a research report on Sunday, October 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Beacon Roofing Supply presently has a consensus rating of “Buy” and a consensus price target of $58.82.

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About Beacon Roofing Supply

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

Earnings History for Beacon Roofing Supply (NASDAQ:BECN)

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