Beacon Roofing Supply (BECN) Scheduled to Post Quarterly Earnings on Wednesday

Beacon Roofing Supply (NASDAQ:BECN) is set to release its earnings data after the market closes on Wednesday, October 30th. Analysts expect Beacon Roofing Supply to post earnings of $2.88 per share for the quarter. Beacon Roofing Supply has set its FY 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the company earned $2.66 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. On average, analysts expect Beacon Roofing Supply to post $7 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $93.36 on Monday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.09 and a current ratio of 1.90. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of -148.19 and a beta of 1.55. Beacon Roofing Supply has a one year low of $68.50 and a one year high of $105.42. The company’s 50-day simple moving average is $88.32 and its 200-day simple moving average is $92.25.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada dropped their target price on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Stephens decreased their price target on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.33.

Insiders Place Their Bets

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the sale, the insider now owns 9,131 shares in the company, valued at approximately $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the transaction, the insider now directly owns 9,131 shares of the company’s stock, valued at $821,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Prithvi Gandhi bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $82.29 per share, for a total transaction of $411,450.00. Following the completion of the transaction, the chief financial officer now owns 5,000 shares in the company, valued at $411,450. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.