Beacon Roofing Supply (NASDAQ:BECN) Updates Q2 2021 Earnings Guidance

Beacon Roofing Supply (NASDAQ: BECN) on Tuesday updated its earnings forecasts for the second quarter of 2021. The company provided an earnings per share guideline of – for the period. The company issued a revenue recommendation of $ 1.31 billion – $ 1.32 billion, compared to its consensus estimated revenue of $ 1.31 billion.

Several analysts recently commented on the company. Zacks Investment Research Beacon Roofing Supply downgraded from a buy rating to a hold rating and set a target price of $ 45.00 on the stock. in a research note on Friday, January 22. Wolfe Research assumed Beacon Roofing Supply was listed in a research note on Monday, March 22. They issued a peer performance rating on the stock. Northcoast Research reaffirmed a neutral rating on shares of Beacon Roofing Supply in a research note on Wednesday, April 21. Robert W. Baird raised their target price for Beacon Roofing Supply from $ 55.00 to $ 57.00 and outperformed the company in a research note on Tuesday, April 20. Finally, Truist raised their price target for Beacon Roofing Supply from $ 43.00 to $ 49.00 in a research report on Tuesday, Feb. 9. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a Buy consensus rating and a consensus target price of $ 47.69.

BECN traded $ 0.71 to $ 56.08 on Wednesday. 11 shares of the company were exchanged, compared to the average volume of 406,127. Beacon Roofing Supply has a 12-month low of $ 17.05 and a 12-month high of $ 57.43. The company has a market cap of $ 3.89 billion, a PE ratio of -34.42 and a beta of 1.97. The company has a debt to equity ratio of 1.56, a quick ratio of 1.25 and a current ratio of 1.82. The 50-day moving average of the stock is $ 53.96 and the 200-day moving average is $ 43.59.

Beacon Roofing Supply (NASDAQ: BECN) last released its earnings results on Sunday, Feb. 7. The company reported $ 1.15 earnings per share (EPS) for the quarter, surpassing the consensus estimate of $ 0.60 by $ 0.55. Beacon Roofing Supply had a positive return on equity of 10.89% and a negative net margin of 1.16%. The company had sales of $ 1.83 billion for the quarter, compared to analyst estimates of $ 1.70 billion. In the same quarter last year, the company posted earnings per share of $ 0.36. Beacon Roofing Supply’s revenues were up 9.0% year on year. As a group, equity analysts expect Beacon Roofing Supply to post 2.97 earnings per share for the current fiscal year.

In other news, EVP Christopher Anthony Harrison sold 20,415 shares of the stock in a transaction that took place on Wednesday, February 10. The stock sold at an average price of $ 45.33, for a total transaction of $ 925,411.95. After the transaction, the executive vice president now owns 39,194 shares in the company, worth $ 1,776,664.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO C Eric Swank sold 31,463 shares of the stock in a transaction that took place on Friday, February 12. The stock sold at an average price of $ 47.21, for a total value of $ 1,485,368.23. After the transaction, the chief operating officer now owns 50,096 shares in the company, worth approximately $ 2,365,032.16. The disclosure for this sale can be found here. Insiders have sold 76,520 shares of the company worth $ 3,660,984 in the past 90 days. Business insiders own 1.40% of the shares of the company.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials and additional construction products to contractors, home builders, building owners and retailers. The company’s residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail insulation, metal roofing, felt, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edging and flashings, prefabricated flashings, backings and vents, and solar systems.

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

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