Beacon Roofing Supply (NASDAQ:BECN) updated its second quarter 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of – for the period. The company issued revenue guidance of $1.31 billion-$1.32 billion, compared to the consensus revenue estimate of $1.31 billion.
Several analysts recently commented on the company. Zacks Investment Research lowered Beacon Roofing Supply from a buy rating to a hold rating and set a $45.00 price target on the stock. in a research note on Friday, January 22nd. Wolfe Research assumed coverage on Beacon Roofing Supply in a research note on Monday, March 22nd. They issued a peer perform rating on the stock. Northcoast Research reaffirmed a neutral rating on shares of Beacon Roofing Supply in a research note on Wednesday, April 21st. Robert W. Baird boosted their price target on Beacon Roofing Supply from $55.00 to $57.00 and gave the company an outperform rating in a research note on Tuesday, April 20th. Finally, Truist lifted their price objective on Beacon Roofing Supply from $43.00 to $49.00 in a research report on Tuesday, February 9th. 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 consensus rating of Buy and a consensus target price of $47.69.
BECN traded down $0.71 on Wednesday, hitting $56.08. 11 shares of the company were exchanged, compared to its 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 stock’s fifty day moving average is $53.96 and its 200-day moving average is $43.59.
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Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Sunday, February 7th. The company reported $1.15 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. Beacon Roofing Supply’s revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts expect that Beacon Roofing Supply will post 2.97 EPS for the current fiscal year.
In other news, EVP Christopher Anthony Harrison sold 20,415 shares of the stock in a transaction that occurred on Wednesday, February 10th. The stock was sold at an average price of $45.33, for a total transaction of $925,411.95. Following the transaction, the executive vice president now owns 39,194 shares in the company, valued at $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 occurred on Friday, February 12th. The stock was sold at an average price of $47.21, for a total value of $1,485,368.23. Following the transaction, the chief operating officer now owns 50,096 shares in the company, valued at approximately $2,365,032.16. The disclosure for this sale can be found here. Insiders sold 76,520 shares of company stock worth $3,660,984 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building 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 base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.
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