Builders FirstSource (NYSE:BLDR) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Builders FirstSource (NYSE:BLDR) posted its quarterly earnings results on Tuesday. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.02), Briefing.com reports. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period last year, the firm earned $4.24 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. Builders FirstSource updated its FY 2024 guidance to EPS.

Builders FirstSource Trading Down 3.2 %

BLDR traded down $5.74 during midday trading on Wednesday, hitting $175.25. 2,142,444 shares of the company were exchanged, compared to its average volume of 1,572,148. The firm has a market capitalization of $20.41 billion, a P/E ratio of 15.44, a P/E/G ratio of 10.15 and a beta of 2.08. The firm’s 50 day moving average price is $184.50 and its 200-day moving average price is $168.39. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. Builders FirstSource has a 1-year low of $120.80 and a 1-year high of $214.70.

Analysts Set New Price Targets

Several analysts have issued reports on BLDR shares. Robert W. Baird upped their price target on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a report on Monday, September 23rd. UBS Group initiated coverage on Builders FirstSource in a research note on Friday, October 25th. They set a “buy” rating and a $232.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective on shares of Builders FirstSource in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group assumed coverage on Builders FirstSource in a report on Thursday, October 10th. They issued a “buy” rating and a $225.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.88.

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the sale, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Builders FirstSource announced that its board has authorized a share buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About Builders FirstSource

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, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.