Q1 2020 EPS Estimates for Beacon Roofing Supply, Inc. (NASDAQ:BECN) Lowered by Jefferies Financial Group

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Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Analysts at Jefferies Financial Group dropped their Q1 2020 EPS estimates for Beacon Roofing Supply in a report released on Wednesday, November 27th. Jefferies Financial Group analyst P. Ng now forecasts that the company will post earnings of $0.47 per share for the quarter, down from their previous estimate of $0.83. Jefferies Financial Group also issued estimates for Beacon Roofing Supply’s Q2 2020 earnings at ($0.19) EPS and FY2020 earnings at $2.86 EPS.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Monday, November 25th. The company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.17). Beacon Roofing Supply had a positive return on equity of 9.55% and a negative net margin of 0.15%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the business earned $1.07 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis.

Several other analysts also recently issued reports on BECN. Wedbush reissued a “neutral” rating and issued a $29.00 price target (down previously from $33.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 26th. BidaskClub downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Stephens set a $37.00 price target on Beacon Roofing Supply and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Raymond James downgraded Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 27th. Finally, SunTrust Banks cut their price target on Beacon Roofing Supply from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $34.09.

Shares of NASDAQ BECN opened at $29.65 on Monday. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 1.05 and a beta of 1.39. Beacon Roofing Supply has a 12-month low of $26.50 and a 12-month high of $40.00. The company has a current ratio of 1.75, a quick ratio of 1.17 and a debt-to-equity ratio of 1.39. The stock’s 50 day simple moving average is $32.54 and its 200 day simple moving average is $33.83.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Griffin Asset Management Inc. acquired a new stake in Beacon Roofing Supply in the 2nd quarter valued at approximately $37,000. Point72 Hong Kong Ltd increased its position in Beacon Roofing Supply by 13,564.3% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,913 shares of the company’s stock valued at $70,000 after acquiring an additional 1,899 shares during the period. Strs Ohio increased its position in Beacon Roofing Supply by 65.0% in the 2nd quarter. Strs Ohio now owns 3,300 shares of the company’s stock valued at $121,000 after acquiring an additional 1,300 shares during the period. Cim Investment Mangement Inc. acquired a new stake in Beacon Roofing Supply in the 2nd quarter valued at approximately $202,000. Finally, Quantamental Technologies LLC increased its position in Beacon Roofing Supply by 229.0% in the 2nd quarter. Quantamental Technologies LLC now owns 6,395 shares of the company’s stock valued at $235,000 after acquiring an additional 4,451 shares during the period.

In related news, major shareholder Cd&R Investment Associates Ix, purchased 3,207,200 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were acquired at an average price of $32.08 per share, with a total value of $102,886,976.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. 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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Earnings History and Estimates for Beacon Roofing Supply (NASDAQ:BECN)

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