Beacon Roofing Supply (BECN) Set to Announce Earnings on Wednesday

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) will be releasing its earnings data after the market closes on Wednesday, October 30th. Analysts expect Beacon Roofing Supply to post earnings of $2.88 per share for the quarter. Beacon Roofing Supply has set its FY 2024 guidance at EPS.Persons that wish to listen to the company's earnings conference call can do so using this link.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.79 by ($0.47). The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.66 EPS. On average, analysts expect Beacon Roofing Supply to post $7 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Beacon Roofing Supply Stock Performance

BECN stock traded down $0.22 during mid-day trading on Wednesday, reaching $92.38. The company had a trading volume of 434,117 shares, compared to its average volume of 710,695. Beacon Roofing Supply has a one year low of $68.50 and a one year high of $105.42. The stock has a market capitalization of $5.88 billion, a P/E ratio of -146.63 and a beta of 1.55. The company has a quick ratio of 1.09, a current ratio of 1.90 and a debt-to-equity ratio of 1.75. The stock's 50-day simple moving average is $88.03 and its two-hundred day simple moving average is $92.39.

Insider Activity

In related news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the sale, the insider now directly owns 9,131 shares of the company's stock, valued at $821,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jason L. Taylor sold 2,600 shares of the 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 owns 9,131 shares in the company, valued at $821,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christopher Carl Nelson sold 1,627 shares of the company'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 sale, the executive vice president now directly owns 320 shares of the company's stock, valued at $27,200. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada decreased their target price on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. Robert W. Baird lifted their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Finally, Stephens decreased their price target on 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $114.33.

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.