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

Beacon Roofing Supply (NASDAQ:BECN) will be releasing 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.Individual 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 data on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.47). Beacon Roofing Supply had a return on equity of 26.02% and a net margin of 4.11%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the firm earned $2.66 EPS. The business’s revenue for the quarter 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

BECN stock opened at $92.60 on Wednesday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09. The company has a 50 day moving average price of $87.89 and a 200 day moving average price of $92.39. Beacon Roofing Supply has a fifty-two week low of $68.50 and a fifty-two week high of $105.42. The stock has a market capitalization of $5.89 billion, a PE ratio of -146.98 and a beta of 1.55.

Insiders Place Their Bets

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 1,627 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $138,295.00. Following the sale, the executive vice president now directly owns 320 shares of the company’s stock, valued at $27,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Prithvi Gandhi purchased 5,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were purchased at an average cost of $82.29 per share, with a total value of $411,450.00. Following the acquisition, the chief financial officer now directly owns 5,000 shares in the company, valued at $411,450. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christopher Carl Nelson sold 1,627 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $138,295.00. Following the completion of the transaction, the executive vice president now directly owns 320 shares in the company, valued at approximately $27,200. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on BECN shares. Royal Bank of Canada lowered their target price on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Stephens lowered their target price 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. Finally, Robert W. Baird lifted their target price on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.