Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities researchers at KeyCorp issued their Q1 2022 EPS estimates for Beacon Roofing Supply in a research note issued on Tuesday, November 23rd. KeyCorp analyst K. Zener anticipates that the company will earn $1.12 per share for the quarter. KeyCorp also issued estimates for Beacon Roofing Supply’s Q2 2022 earnings at $0.53 EPS, Q3 2022 earnings at $1.86 EPS, Q4 2022 earnings at $1.62 EPS and Q1 2023 earnings at $1.17 EPS.
BECN has been the topic of a number of other research reports. Jefferies Financial Group downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price objective for the company from $69.00 to $56.00 in a report on Tuesday, August 10th. TheStreet upgraded Beacon Roofing Supply from a “c+” rating to a “b” rating in a report on Friday, August 6th. Stephens upped their target price on Beacon Roofing Supply from $56.00 to $62.00 and gave the company an “equal weight” rating in a research report on Wednesday. Berenberg Bank cut Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Thursday, August 12th. Finally, Zacks Investment Research cut 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. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $59.77.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, November 18th. The company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.32). Beacon Roofing Supply had a negative net margin of 0.69% and a positive return on equity of 22.81%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the company posted $1.30 EPS. The company’s revenue was up 6.9% compared to the same quarter last year.
In related news, major shareholder Cd&R Investment Associates Ix, acquired 116,945 shares of the firm’s stock in a transaction on Friday, October 29th. The stock was bought at an average cost of $51.31 per share, with a total value of $6,000,447.95. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC purchased a new position in shares of Beacon Roofing Supply during the 2nd quarter worth approximately $25,000. UBS Group AG raised its stake in shares of Beacon Roofing Supply by 44.5% during the 3rd quarter. UBS Group AG now owns 1,455 shares of the company’s stock worth $69,000 after buying an additional 448 shares in the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Beacon Roofing Supply by 47.7% during the 2nd quarter. Advisor Group Holdings Inc. now owns 1,645 shares of the company’s stock worth $87,000 after buying an additional 531 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Beacon Roofing Supply by 18.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,678 shares of the company’s stock worth $89,000 after buying an additional 257 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new position in shares of Beacon Roofing Supply during the 3rd quarter worth approximately $86,000.
About Beacon Roofing Supply
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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