Beacon Roofing Supply (NASDAQ:BECN) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Beacon Roofing Supply (NASDAQ:BECN) issued its quarterly earnings data on Thursday. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01), Zacks reports. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $115.42 on Friday. Beacon Roofing Supply has a fifty-two week low of $77.54 and a fifty-two week high of $121.42. The business has a 50 day moving average price of $112.29 and a two-hundred day moving average price of $101.15. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The firm has a market cap of $7.11 billion, a PE ratio of 19.73 and a beta of 1.62.

Analyst Ratings Changes

BECN has been the topic of several recent analyst reports. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their target price for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. StockNews.com initiated coverage on Beacon Roofing Supply in a research report on Saturday. They set a “sell” rating on the stock. Robert W. Baird increased their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Finally, Benchmark restated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $120.62.

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.