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

Beacon Roofing Supply (NASDAQ:BECN) announced its earnings results on Thursday. The company reported $1.65 earnings per share (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%.

Beacon Roofing Supply Stock Performance

BECN stock traded down $0.68 during midday trading on Thursday, reaching $115.32. The company had a trading volume of 543,293 shares, compared to its average volume of 955,708. 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 stock has a 50 day moving average price of $112.01 and a 200 day moving average price of $101.05. The firm has a market capitalization of $7.10 billion, a PE ratio of 19.71 and a beta of 1.62. Beacon Roofing Supply has a fifty-two week low of $77.54 and a fifty-two week high of $121.42.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BECN shares. BMO Capital Markets upped their target price on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Stephens reaffirmed an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Royal Bank of Canada increased their price objective 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. 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. Finally, Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price target for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Hold” and an average price target of $120.17.

Beacon Roofing Supply Company Profile

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.