Builders FirstSource (BLDR) Set to Announce Earnings on Tuesday

Builders FirstSource (NYSE:BLDR – Get Rating) is set to issue its quarterly earnings data before the market opens on Tuesday, May 10th. Analysts expect the company to announce earnings of $2.04 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Builders FirstSource (NYSE:BLDR – Get Rating) last posted its quarterly earnings results on Tuesday, March 1st. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.89. Builders FirstSource had a return on equity of 39.10% and a net margin of 8.67%. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The business’s revenue was up 83.1% compared to the same quarter last year. On average, analysts expect Builders FirstSource to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

BLDR opened at $63.28 on Tuesday. Builders FirstSource has a 12-month low of $39.24 and a 12-month high of $86.48. The company has a current ratio of 1.86, a quick ratio of 1.10 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $68.00 and its 200-day simple moving average is $70.32. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 7.44 and a beta of 2.27.

BLDR has been the topic of a number of recent research reports. Bryan, Garnier & Co downgraded Builders FirstSource from a “buy” rating to a “neutral” rating and set a $71.00 price objective on the stock. in a research report on Wednesday, April 6th. B. Riley downgraded Builders FirstSource from a “buy” rating to a “neutral” rating and set a $71.00 price objective on the stock. in a research report on Wednesday, April 6th. Robert W. Baird dropped their price objective on Builders FirstSource from $103.00 to $100.00 in a research report on Wednesday, March 2nd. DA Davidson raised their price objective on Builders FirstSource from $93.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, January 6th. Finally, Truist Financial raised their price objective on Builders FirstSource from $76.00 to $90.00 in a research report on Wednesday, March 2nd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $89.42.

A number of hedge funds have recently made changes to their positions in the stock. Toroso Investments LLC acquired a new stake in Builders FirstSource in the fourth quarter valued at approximately $205,000. Canada Pension Plan Investment Board acquired a new stake in Builders FirstSource in the fourth quarter valued at approximately $215,000. CIBC World Markets Inc. acquired a new stake in Builders FirstSource in the fourth quarter valued at approximately $347,000. Forum Financial Management LP acquired a new stake in shares of Builders FirstSource in the fourth quarter worth approximately $391,000. Finally, Belpointe Asset Management LLC boosted its stake in shares of Builders FirstSource by 9.2% in the fourth quarter. Belpointe Asset Management LLC now owns 4,711 shares of the company’s stock worth $404,000 after acquiring an additional 395 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

About Builders FirstSource (Get Rating)

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, steel roof trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior and exterior trims and custom products under the Synboard brand name.

Read More