Beacon Roofing Supply (BECN) Set to Announce Earnings on Wednesday

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

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $2.66 earnings per share. 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 NASDAQ:BECN opened at $92.60 on Wednesday. The company’s 50 day simple moving average is $87.89 and its 200 day simple moving average is $92.39. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of -146.98 and a beta of 1.55. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09. Beacon Roofing Supply has a 1 year low of $68.50 and a 1 year high of $105.42.

Insider Transactions at Beacon Roofing Supply

In other news, EVP Christopher Carl Nelson sold 1,627 shares of Beacon Roofing Supply stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $138,295.00. Following the transaction, the executive vice president now owns 320 shares in the company, valued at approximately $27,200. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Christopher Carl Nelson sold 1,627 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $85.00, for a total value of $138,295.00. Following the transaction, the executive vice president now owns 320 shares in the company, valued at $27,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the transaction, the insider now owns 9,131 shares in the company, valued at approximately $821,790. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.