Wall Street brokerages expect that Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) will announce sales of $2.28 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Beacon Roofing Supply’s earnings, with estimates ranging from $2.25 billion to $2.31 billion. Beacon Roofing Supply reported sales of $1.87 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.9%. The business is expected to announce its next earnings results on Monday, January 1st.
On average, analysts expect that Beacon Roofing Supply will report full-year sales of $8.21 billion for the current financial year, with estimates ranging from $8.12 billion to $8.34 billion. For the next financial year, analysts forecast that the company will report sales of $8.52 billion, with estimates ranging from $8.14 billion to $8.82 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Beacon Roofing Supply.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.40. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Beacon Roofing Supply had a net margin of 4.24% and a return on equity of 26.21%.
Several analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Beacon Roofing Supply from $59.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, April 21st. Truist Financial lowered their target price on shares of Beacon Roofing Supply from $58.00 to $55.00 in a research note on Monday, February 7th. Robert W. Baird boosted their target price on shares of Beacon Roofing Supply from $74.00 to $83.00 in a research note on Friday, May 6th. JPMorgan Chase & Co. lowered their target price on shares of Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating for the company in a research note on Wednesday, April 20th. Finally, StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Thursday, March 31st. They set a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $65.22.
In other news, major shareholder Cd&R Investment Associates Ix, purchased 102,219 shares of the stock in a transaction dated Friday, April 29th. The stock was acquired at an average price of $58.70 per share, for a total transaction of $6,000,255.30. Following the completion of the transaction, the insider now owns 14,755,648 shares of the company’s stock, valued at $866,156,537.60. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Clement Munroe Best III sold 4,000 shares of the stock in a …….