William Blair Issues Pessimistic Forecast for BECN Earnings

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) - William Blair dropped their FY2025 EPS estimates for shares of Beacon Roofing Supply in a report released on Tuesday, October 15th. William Blair analyst R. Merkel now forecasts that the company will earn $9.21 per share for the year, down from their previous forecast of $10.24. The consensus estimate for Beacon Roofing Supply's current full-year earnings is $7.37 per share.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.47). The firm had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The business's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.66 EPS.

Several other equities research analysts have also issued reports on the company. Robert W. Baird raised their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday. Stephens dropped their price objective on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an "equal weight" rating for the company in a research note on Monday, August 5th. Finally, Royal Bank of Canada reduced their target price on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $114.33.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock traded up $0.04 during trading hours on Thursday, reaching $95.64. The company's stock had a trading volume of 556,230 shares, compared to its average volume of 716,489. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09. Beacon Roofing Supply has a one year low of $68.50 and a one year high of $105.42. The firm has a 50 day moving average price of $87.11 and a 200-day moving average price of $92.62. The stock has a market cap of $6.08 billion, a P/E ratio of -150.73 and a beta of 1.55.

Hedge Funds Weigh In On Beacon Roofing Supply

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Beacon Roofing Supply in the 1st quarter worth approximately $26,000. PNC Financial Services Group Inc. lifted its stake in shares of Beacon Roofing Supply by 145.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company's stock worth $30,000 after buying an additional 203 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Beacon Roofing Supply by 28.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company's stock valued at $52,000 after buying an additional 116 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Beacon Roofing Supply by 154.0% in the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company's stock valued at $63,000 after acquiring an additional 445 shares during the period. Finally, Central Pacific Bank Trust Division raised its stake in Beacon Roofing Supply by 66.7% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company's stock worth $108,000 after acquiring an additional 500 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 1,627 shares of the firm's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $138,295.00. Following the transaction, the executive vice president now owns 320 shares of the company's stock, valued at approximately $27,200. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Christopher Carl Nelson sold 1,627 shares of Beacon Roofing Supply stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $85.00, for a total value of $138,295.00. Following the transaction, the executive vice president now directly owns 320 shares in the company, valued at approximately $27,200. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the business's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the transaction, the insider now directly owns 9,131 shares of the company's stock, valued at approximately $821,790. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

About Beacon Roofing Supply

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.