FY2024 EPS Estimate for Beacon Roofing Supply Cut by Analyst

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) - Equities research analysts at William Blair decreased their FY2024 EPS estimates for Beacon Roofing Supply in a research note issued on Thursday, October 31st. William Blair analyst R. Merkel now expects that the company will post earnings per share of $7.22 for the year, down from their prior estimate of $7.51. The consensus estimate for Beacon Roofing Supply's current full-year earnings is $7.37 per share. William Blair also issued estimates for Beacon Roofing Supply's Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $2.68 EPS, Q3 2025 earnings at $3.05 EPS and Q4 2025 earnings at $1.85 EPS.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing analysts' consensus estimates of $2.79 by ($0.47). The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.69 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.64%. The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $2.66 earnings per share.

A number of other analysts also recently issued reports on BECN. Stephens decreased 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 report on Monday, August 5th. Royal Bank of Canada raised their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an "outperform" rating in a report on Friday. Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Finally, Benchmark restated a "buy" rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Beacon Roofing Supply has an average rating of "Moderate Buy" and a consensus price target of $115.00.

Beacon Roofing Supply Stock Up 0.1 %

Shares of BECN stock traded up $0.12 on Monday, hitting $93.46. The stock had a trading volume of 424,821 shares, compared to its average volume of 712,317. The business has a 50 day moving average of $88.96 and a 200 day moving average of $92.18. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of 15.96 and a beta of 1.54. 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 12-month low of $72.09 and a 12-month high of $105.42.

Institutional Investors Weigh In On Beacon Roofing Supply

Hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its position in Beacon Roofing Supply by 15.3% during the first quarter. Acadian Asset Management LLC now owns 374,276 shares of the company's stock valued at $36,671,000 after purchasing an additional 49,634 shares during the last quarter. Boston Partners lifted its holdings in shares of Beacon Roofing Supply by 79.6% in the 1st quarter. Boston Partners now owns 1,285,239 shares of the company's stock worth $126,082,000 after acquiring an additional 569,627 shares during the last quarter. Blair William & Co. IL bought a new stake in shares of Beacon Roofing Supply in the 1st quarter worth approximately $644,000. Bayesian Capital Management LP bought a new stake in shares of Beacon Roofing Supply in the 1st quarter worth approximately $572,000. Finally, Comerica Bank lifted its holdings in shares of Beacon Roofing Supply by 109.5% in the 1st quarter. Comerica Bank now owns 89,967 shares of the company's stock worth $8,818,000 after acquiring an additional 47,028 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jason L. Taylor sold 2,600 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were 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 in the company, valued at approximately $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jason L. Taylor sold 2,600 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were 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 in the company, valued at approximately $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prithvi Gandhi acquired 5,000 shares of the business's stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $82.29 per share, with a total value of $411,450.00. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares of the company's stock, valued at $411,450. The disclosure for this purchase can be found here. 1.30% of the stock is owned by company insiders.

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.