Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Analysts at William Blair reduced their FY2017 earnings per share estimates for Beacon Roofing Supply in a report released on Monday. William Blair analyst R. Merkel now anticipates that the company will post earnings of $2.19 per share for the year, down from their prior estimate of $2.20. William Blair also issued estimates for Beacon Roofing Supply’s Q4 2017 earnings at $0.95 EPS, Q3 2018 earnings at $0.95 EPS and Q4 2018 earnings at $1.09 EPS.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.06). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.27 billion. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS.

TRADEMARK VIOLATION NOTICE: “FY2017 Earnings Forecast for Beacon Roofing Supply, Inc. Issued By William Blair (BECN)” was reported by Marea Informative and is the property of of Marea Informative. If you are accessing this article on another domain, it was stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this article can be read at http://www.mareainformativa.com/fy2017-earnings-forecast-for-beacon-roofing-supply-inc-issued-by-william-blair-becn/117244/.

Other equities analysts have also recently issued reports about the stock. KeyCorp reiterated a “buy” rating and set a $56.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. Northcoast Research upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Friday, August 25th. Jefferies Group LLC upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and upped their price objective for the stock from $50.00 to $54.00 in a research report on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Beacon Roofing Supply has an average rating of “Buy” and an average target price of $52.55.

Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at 52.91 on Tuesday. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 31.42 and a beta of 1.32. Beacon Roofing Supply has a one year low of $39.57 and a one year high of $53.01. The company has a 50 day moving average of $47.50 and a 200-day moving average of $48.01.

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Beacon Roofing Supply in the 2nd quarter valued at approximately $100,000. Advisors Asset Management Inc. increased its position in Beacon Roofing Supply by 36.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock valued at $103,000 after acquiring an additional 565 shares during the period. Huntington National Bank increased its position in Beacon Roofing Supply by 3.8% in the 2nd quarter. Huntington National Bank now owns 3,138 shares of the company’s stock valued at $154,000 after acquiring an additional 116 shares during the period. Lloyds Banking Group plc increased its position in Beacon Roofing Supply by 37.7% in the 2nd quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock valued at $180,000 after acquiring an additional 1,012 shares during the period. Finally, Advisor Group Inc. increased its position in Beacon Roofing Supply by 8.9% in the 2nd quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock valued at $190,000 after acquiring an additional 316 shares during the period. Hedge funds and other institutional investors own 91.22% of the company’s stock.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

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

Receive News & Stock Ratings for Beacon Roofing Supply Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply Inc. and related stocks with our FREE daily email newsletter.