Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Analysts at SunTrust Banks lifted their FY2018 earnings per share estimates for shares of Beacon Roofing Supply in a note issued to investors on Monday. SunTrust Banks analyst K. Hughes now forecasts that the company will post earnings of $2.61 per share for the year, up from their previous estimate of $2.60. SunTrust Banks has a “Buy” rating and a $55.00 price objective on the stock.

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

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A number of other research firms also recently issued reports on BECN. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 target price for the company in a research report on Tuesday. KeyCorp reiterated a “buy” rating and issued a $56.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. Citigroup Inc. increased their target price on shares of Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. BidaskClub downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $58.00 target price on shares of Beacon Roofing Supply in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Beacon Roofing Supply presently has a consensus rating of “Buy” and an average price target of $52.55.

Shares of Beacon Roofing Supply (BECN) traded down 0.009% during mid-day trading on Wednesday, hitting $52.905. 243,094 shares of the stock traded hands. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 31.416 and a beta of 1.32. The stock has a 50-day moving average of $47.50 and a 200-day moving average of $48.01. Beacon Roofing Supply has a 52 week low of $39.57 and a 52 week high of $53.11.

Several institutional investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC raised its holdings in shares of Beacon Roofing Supply by 10.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after purchasing an additional 176,659 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Beacon Roofing Supply during the 2nd quarter valued at $312,000. Public Employees Retirement System of Ohio raised its holdings in shares of Beacon Roofing Supply by 27.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 194,591 shares of the company’s stock valued at $9,535,000 after purchasing an additional 41,654 shares in the last quarter. 1st Global Advisors Inc. raised its holdings in shares of Beacon Roofing Supply by 0.8% during the 2nd quarter. 1st Global Advisors Inc. now owns 9,836 shares of the company’s stock valued at $482,000 after purchasing an additional 76 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Beacon Roofing Supply during the 2nd quarter valued at $383,000. Institutional investors and hedge funds own 91.22% of the company’s stock.

About Beacon Roofing Supply

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)

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