Beacon Roofing Supply (NASDAQ:BECN) Announces Quarterly Earnings Results

Beacon Roofing Supply (NASDAQ:BECN) released its quarterly earnings data on Thursday. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01), Zacks reports. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion.

Beacon Roofing Supply Stock Down 0.6 %

BECN stock opened at $115.32 on Friday. Beacon Roofing Supply has a twelve month low of $77.54 and a twelve month high of $121.42. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The firm has a market cap of $7.10 billion, a PE ratio of 19.71 and a beta of 1.62. The business has a 50 day moving average of $112.01 and a 200 day moving average of $101.05.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BECN shares. Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Benchmark reissued a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 1st. StockNews.com initiated coverage on Beacon Roofing Supply in a research report on Friday, February 21st. They issued a “sell” rating for the company. BMO Capital Markets increased their target price on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada increased their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Beacon Roofing Supply has a consensus rating of “Hold” and a consensus price target of $120.17.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.