Q1 2022 EPS Estimates for Beacon Roofing Supply, Inc. Raised by Jefferies Financial Group (NASDAQ:BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Investment analysts at Jefferies Financial Group boosted their Q1 2022 earnings estimates for Beacon Roofing Supply in a research note issued on Monday, November 22nd. Jefferies Financial Group analyst P. Ng now forecasts that the company will post earnings per share of $1.17 for the quarter, up from their prior estimate of $0.89. Jefferies Financial Group has a “Hold” rating and a $56.00 price objective on the stock. Jefferies Financial Group also issued estimates for Beacon Roofing Supply’s Q4 2022 earnings at $1.76 EPS and FY2022 earnings at $4.77 EPS.

Other equities research analysts have also recently issued research reports about the stock. TheStreet raised shares of Beacon Roofing Supply from a “c+” rating to a “b” rating in a research report on Friday, August 6th. Royal Bank of Canada raised Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and set a $63.00 price objective for the company in a research note on Monday, October 18th. They noted that the move was a valuation call. Stephens increased their target price on shares of Beacon Roofing Supply from $56.00 to $62.00 and gave the company an “equal weight” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and set a $55.00 target price for the company. in a research report on Wednesday, August 11th. Finally, Berenberg Bank cut Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Thursday, August 12th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $59.77.

Shares of Beacon Roofing Supply stock opened at $55.44 on Wednesday. Beacon Roofing Supply has a 52-week low of $35.86 and a 52-week high of $60.93. The firm has a 50-day moving average of $52.86 and a 200-day moving average of $53.40. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.93 and a current ratio of 1.65. The stock has a market cap of $3.88 billion, a PE ratio of -41.68 and a beta of 1.99.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, November 18th. The company reported $1.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.32). The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.88 billion. Beacon Roofing Supply had a positive return on equity of 22.81% and a negative net margin of 0.69%. Beacon Roofing Supply’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 earnings per share.

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 116,945 shares of Beacon Roofing Supply stock in a transaction dated Friday, October 29th. The shares were purchased at an average cost of $51.31 per share, with a total value of $6,000,447.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new stake in Beacon Roofing Supply during the second quarter valued at $25,000. UBS Group AG grew its position in shares of Beacon Roofing Supply by 44.5% during the third quarter. UBS Group AG now owns 1,455 shares of the company’s stock worth $69,000 after purchasing an additional 448 shares in the last quarter. Advisor Group Holdings Inc. grew its position in shares of Beacon Roofing Supply by 47.7% during the second quarter. Advisor Group Holdings Inc. now owns 1,645 shares of the company’s stock worth $87,000 after purchasing an additional 531 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Beacon Roofing Supply by 18.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,678 shares of the company’s stock valued at $89,000 after buying an additional 257 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new position in Beacon Roofing Supply during the third quarter valued at approximately $86,000.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.

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

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