Beacon Roofing Supply (NASDAQ:BECN) Announces Earnings Results

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

Beacon Roofing Supply Stock Up 0.1 %

NASDAQ BECN opened at $115.42 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The company’s 50 day simple moving average is $112.29 and its 200 day simple moving average is $101.15. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $121.42. The company has a market capitalization of $7.11 billion, a P/E ratio of 19.73 and a beta of 1.62.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BECN shares. Benchmark reissued a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Royal Bank of Canada boosted their target price on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BMO Capital Markets boosted their target price on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Finally, Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.