Research Analysts Offer Predictions for Beacon Roofing Supply, Inc.’s Q2 2024 Earnings (NASDAQ:BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECNFree Report) – Stock analysts at Zacks Research increased their Q2 2024 earnings per share estimates for shares of Beacon Roofing Supply in a report released on Thursday, May 16th. Zacks Research analyst S. Mukherjee now anticipates that the company will earn $2.83 per share for the quarter, up from their previous forecast of $2.72. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $7.80 per share. Zacks Research also issued estimates for Beacon Roofing Supply’s FY2024 earnings at $7.63 EPS, Q1 2025 earnings at $0.59 EPS, Q3 2025 earnings at $2.75 EPS, FY2025 earnings at $8.25 EPS and Q1 2026 earnings at $0.71 EPS.

Beacon Roofing Supply (NASDAQ:BECNGet Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.22). The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.27 billion. Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. Beacon Roofing Supply’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.18 EPS.

Other equities analysts have also issued reports about the company. Benchmark began coverage on Beacon Roofing Supply in a report on Thursday, April 18th. They set a “buy” rating and a $135.00 target price on the stock. Loop Capital boosted their target price on Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, April 1st. BMO Capital Markets increased their price target on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Robert W. Baird boosted their price objective on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, TheStreet raised shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.64.

Get Our Latest Analysis on BECN

Beacon Roofing Supply Stock Down 0.0 %

BECN stock opened at $96.09 on Monday. The firm has a market cap of $6.11 billion, a PE ratio of -152.52 and a beta of 1.59. Beacon Roofing Supply has a 1 year low of $63.10 and a 1 year high of $103.75. The company has a fifty day simple moving average of $95.48 and a 200 day simple moving average of $87.82. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 1.47.

Insider Activity at Beacon Roofing Supply

In related news, EVP Christopher Carl Nelson sold 3,268 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $93.87, for a total transaction of $306,767.16. Following the transaction, the executive vice president now directly owns 176 shares in the company, valued at $16,521.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the sale, the executive vice president now owns 176 shares in the company, valued at $16,521.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the sale, the insider now directly owns 10,531 shares in the company, valued at approximately $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Beacon Roofing Supply by 19.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock worth $434,118,000 after buying an additional 909,819 shares during the period. Norges Bank bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at $59,850,000. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at $33,416,000. Jupiter Asset Management Ltd. boosted its stake in shares of Beacon Roofing Supply by 1,293.8% in the 1st quarter. Jupiter Asset Management Ltd. now owns 399,412 shares of the company’s stock valued at $39,150,000 after purchasing an additional 370,756 shares in the last quarter. Finally, Zimmer Partners LP bought a new stake in shares of Beacon Roofing Supply in the 1st quarter worth about $35,777,000. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Company Profile

(Get Free Report)

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.

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

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