Builders FirstSource (NYSE:BLDR) Announces Quarterly Earnings Results

Builders FirstSource (NYSE:BLDR) announced its quarterly earnings data on Tuesday. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02), Briefing.com reports. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the business posted $4.24 EPS. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. Builders FirstSource updated its FY 2024 guidance to EPS.

Builders FirstSource Stock Performance

Shares of NYSE BLDR traded down $5.77 during mid-day trading on Wednesday, hitting $175.22. 1,680,883 shares of the company were exchanged, compared to its average volume of 1,569,338. The stock has a 50 day simple moving average of $184.50 and a 200-day simple moving average of $168.39. Builders FirstSource has a 1-year low of $120.80 and a 1-year high of $214.70. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. The firm has a market cap of $20.40 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 10.15 and a beta of 2.08.

Builders FirstSource declared that its board has initiated a share buyback plan on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the sale, the director now owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on BLDR. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective on shares of Builders FirstSource in a research report on Tuesday, October 29th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and increased their target price for the company from $165.00 to $220.00 in a report on Monday, September 16th. Robert W. Baird upped their price objective on Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Builders FirstSource currently has a consensus rating of “Moderate Buy” and an average target price of $207.50.

Builders FirstSource Company Profile

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.