Beacon Roofing Supply, Inc. (NASDAQ:BECN) Forecasted to Earn Q2 2020 Earnings of ($0.23) Per Share

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Analysts at Jefferies Financial Group issued their Q2 2020 earnings per share estimates for Beacon Roofing Supply in a research note issued to investors on Wednesday, October 9th. Jefferies Financial Group analyst P. Ng forecasts that the company will post earnings per share of ($0.23) for the quarter. Jefferies Financial Group also issued estimates for Beacon Roofing Supply’s Q3 2020 earnings at $1.23 EPS, Q4 2020 earnings at $1.40 EPS, FY2020 earnings at $3.26 EPS and FY2021 earnings at $3.49 EPS.

BECN has been the subject of several other reports. Stephens set a $37.00 price target on shares of Beacon Roofing Supply and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Wedbush restated a “neutral” rating and issued a $33.00 price target on shares of Beacon Roofing Supply in a research report on Wednesday, August 7th. BidaskClub cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. cut shares of Beacon Roofing Supply from a “neutral” rating to an “underweight” rating and set a $29.00 price target for the company. in a research report on Thursday, September 26th. Finally, Raymond James set a $38.00 price target on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $34.64.

BECN stock opened at $30.50 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.07 and a quick ratio of 1.17. Beacon Roofing Supply has a 1 year low of $24.97 and a 1 year high of $40.00. The company has a 50 day simple moving average of $32.43 and a 200 day simple moving average of $34.73. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.01 and a beta of 1.42.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.32). The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.99 billion. Beacon Roofing Supply had a return on equity of 9.63% and a net margin of 0.15%. Beacon Roofing Supply’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 earnings per share.

Several institutional investors and hedge funds have recently bought and sold shares of BECN. Griffin Asset Management Inc. acquired a new stake in shares of Beacon Roofing Supply during the second quarter worth $37,000. Point72 Hong Kong Ltd increased its position in shares of Beacon Roofing Supply by 13,564.3% during the second quarter. Point72 Hong Kong Ltd now owns 1,913 shares of the company’s stock worth $70,000 after buying an additional 1,899 shares during the period. Hardy Reed LLC acquired a new stake in shares of Beacon Roofing Supply during the second quarter worth $84,000. Strs Ohio increased its position in shares of Beacon Roofing Supply by 65.0% during the second quarter. Strs Ohio now owns 3,300 shares of the company’s stock worth $121,000 after buying an additional 1,300 shares during the period. Finally, We Are One Seven LLC bought a new position in Beacon Roofing Supply during the second quarter worth $200,000.

In other news, major shareholder Cd&R Investment Associates Ix, acquired 3,207,200 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was bought at an average cost of $32.08 per share, for a total transaction of $102,886,976.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

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 solar systems.

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

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