Beacon Roofing Supply (NASDAQ:BECN) Releases Q2 2021 Earnings Guidance

Beacon Roofing Supply (NASDAQ:BECN) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of – for the period. The company issued revenue guidance of $1.31 billion-$1.32 billion, compared to the consensus revenue estimate of $1.31 billion.

Shares of BECN traded up $0.08 during midday trading on Tuesday, hitting $57.32. 11,030 shares of the company traded hands, compared to its average volume of 401,982. The stock has a 50-day moving average of $54.40 and a 200-day moving average of $44.20. Beacon Roofing Supply has a one year low of $17.05 and a one year high of $57.78. The firm has a market cap of $3.98 billion, a P/E ratio of -34.69 and a beta of 1.97. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.82 and a quick ratio of 1.25.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Sunday, February 7th. The company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.55. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Beacon Roofing Supply had a negative net margin of 1.16% and a positive return on equity of 10.89%. Beacon Roofing Supply’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. Sell-side analysts forecast that Beacon Roofing Supply will post 2.97 EPS for the current fiscal year.

Several research analysts recently weighed in on BECN shares. Loop Capital upped their price objective on shares of Beacon Roofing Supply from $57.00 to $63.00 and gave the stock a buy rating in a research report on Tuesday, April 20th. Wolfe Research began coverage on Beacon Roofing Supply in a research note on Monday, March 22nd. They issued a peer perform rating for the company. Longbow Research raised Beacon Roofing Supply from a neutral rating to a buy rating and set a $60.00 target price for the company in a research note on Tuesday, January 26th. BMO Capital Markets raised Beacon Roofing Supply from a market perform rating to an outperform rating and upped their target price for the stock from $47.00 to $53.00 in a research note on Tuesday, February 9th. Finally, Royal Bank of Canada raised Beacon Roofing Supply from an underperform rating to a sector perform rating and upped their target price for the stock from $37.00 to $48.00 in a research note on Tuesday, February 9th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Beacon Roofing Supply presently has an average rating of Buy and an average price target of $47.69.

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 4,000 shares of the stock in a transaction on Friday, April 16th. The stock was sold at an average price of $57.00, for a total value of $228,000.00. Following the completion of the transaction, the insider now owns 56,002 shares in the company, valued at $3,192,114. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO C Eric Swank sold 31,463 shares of the stock in a transaction on Friday, February 12th. The stock was sold at an average price of $47.21, for a total value of $1,485,368.23. Following the completion of the transaction, the chief operating officer now owns 50,096 shares of the company’s stock, valued at approximately $2,365,032.16. The disclosure for this sale can be found here. Insiders sold 76,520 shares of company stock valued at $3,660,984 in the last ninety days. 1.40% of the stock is currently owned by insiders.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, and retailers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.

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

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