Northcoast Research Comments on Beacon Roofing Supply, Inc.’s Q1 2019 Earnings (BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Northcoast Research issued their Q1 2019 earnings estimates for shares of Beacon Roofing Supply in a research note issued on Wednesday, November 21st. Northcoast Research analyst K. Hocevar expects that the company will post earnings of $0.62 per share for the quarter. Northcoast Research also issued estimates for Beacon Roofing Supply’s Q2 2019 earnings at ($0.32) EPS, Q3 2019 earnings at $1.33 EPS, Q4 2019 earnings at $1.33 EPS and FY2020 earnings at $3.35 EPS.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Monday, November 19th. The company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.29). Beacon Roofing Supply had a return on equity of 11.32% and a net margin of 1.54%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the company earned $0.93 earnings per share. The business’s revenue for the quarter was up 50.4% on a year-over-year basis.

Other research analysts have also issued reports about the company. BidaskClub raised Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a research report on Thursday. Seaport Global Securities set a $52.00 target price on Beacon Roofing Supply and gave the stock a “buy” rating in a research report on Sunday, August 12th. Wedbush dropped their target price on Beacon Roofing Supply from $65.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 8th. Citigroup lowered Beacon Roofing Supply from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $51.00 to $44.00 in a research report on Wednesday, August 8th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $52.00 target price on shares of Beacon Roofing Supply in a research report on Wednesday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Beacon Roofing Supply has a consensus rating of “Hold” and an average target price of $42.27.

Shares of BECN stock opened at $32.81 on Thursday. The company has a current ratio of 2.07, a quick ratio of 1.14 and a debt-to-equity ratio of 1.63. Beacon Roofing Supply has a fifty-two week low of $24.97 and a fifty-two week high of $66.47. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 0.39 and a beta of 1.44.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in shares of Beacon Roofing Supply during the 2nd quarter worth about $226,000. Cim Investment Mangement Inc. bought a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth about $205,000. Eqis Capital Management Inc. bought a new stake in shares of Beacon Roofing Supply during the 2nd quarter worth about $261,000. CIBC World Markets Inc. bought a new stake in shares of Beacon Roofing Supply during the 2nd quarter worth about $277,000. Finally, Greenwood Capital Associates LLC boosted its stake in shares of Beacon Roofing Supply by 32.4% during the 2nd quarter. Greenwood Capital Associates LLC now owns 6,599 shares of the company’s stock worth $281,000 after acquiring an additional 1,613 shares in the last quarter.

Beacon Roofing Supply Company Profile

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 other accessories.

Further Reading: Understanding Price to Earnings Ratio (PE)

Earnings History and Estimates for Beacon Roofing Supply (NASDAQ:BECN)

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