Beacon Roofing Supply, Inc. (NASDAQ:BECN) Expected to Post Q4 2023 Earnings of $0.71 Per Share

Beacon Roofing Supply, Inc. (NASDAQ:BECNGet Rating) – Investment analysts at KeyCorp issued their Q4 2023 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a research report issued on Monday, November 7th. KeyCorp analyst K. Zener anticipates that the company will earn $0.71 per share for the quarter. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $7.02 per share.

Several other research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Beacon Roofing Supply from $90.00 to $79.00 and set a “buy” rating on the stock in a research report on Thursday, October 20th. Robert W. Baird lowered Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $65.00 in a report on Friday, October 14th. Stephens cut their price objective on Beacon Roofing Supply from $72.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, August 8th. StockNews.com assumed coverage on Beacon Roofing Supply in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, William Blair lowered Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 19th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Beacon Roofing Supply currently has an average rating of “Hold” and a consensus price target of $61.75.

Beacon Roofing Supply Trading Up 6.0 %

Shares of NASDAQ:BECN opened at $58.11 on Thursday. The business’s 50-day moving average is $55.18 and its 200 day moving average is $57.16. Beacon Roofing Supply has a 1 year low of $45.71 and a 1 year high of $65.30. The firm has a market capitalization of $3.78 billion, a P/E ratio of 10.68 and a beta of 1.63. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.92 and a quick ratio of 1.02.

Insider Transactions at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 4,000 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $57.30, for a total value of $229,200.00. Following the sale, the insider now owns 5,937 shares in the company, valued at $340,190.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Beacon Roofing Supply news, insider Jason L. Taylor sold 4,000 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $57.30, for a total transaction of $229,200.00. Following the transaction, the insider now owns 5,937 shares in the company, valued at $340,190.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cd&R Investment Associates Ix, purchased 105,320 shares of the stock in a transaction on Friday, October 28th. The shares were acquired at an average price of $56.97 per share, for a total transaction of $6,000,080.40. Following the transaction, the insider now directly owns 14,964,899 shares of the company’s stock, valued at approximately $852,550,296.03. The disclosure for this purchase can be found here. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Beacon Roofing Supply

Several hedge funds and other institutional investors have recently made changes to their positions in BECN. Retirement Group LLC lifted its position in shares of Beacon Roofing Supply by 100.0% in the second quarter. Retirement Group LLC now owns 548 shares of the company’s stock valued at $28,000 after acquiring an additional 274 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Beacon Roofing Supply by 298.6% in the third quarter. Bessemer Group Inc. now owns 1,120 shares of the company’s stock valued at $62,000 after acquiring an additional 839 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Beacon Roofing Supply by 37.5% in the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after acquiring an additional 300 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Beacon Roofing Supply in the second quarter valued at approximately $67,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Beacon Roofing Supply in the first quarter valued at approximately $136,000.

About Beacon Roofing Supply

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Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It 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.

Further Reading

Earnings History and Estimates for Beacon Roofing Supply (NASDAQ:BECN)

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