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

Beacon Roofing Supply (NASDAQ:BECN) issued its earnings results on Thursday. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 on Thursday, hitting $115.32. The company’s stock had a trading volume of 543,292 shares, compared to its average volume of 955,708. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $121.42. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 19.71 and a beta of 1.62. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The firm has a 50 day moving average of $112.01 and a two-hundred day moving average of $101.05.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BECN. Stephens restated an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lifted 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 report on Tuesday, November 19th. Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 1st. BMO Capital Markets lifted 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 report 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 report on Thursday, January 16th. 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. According to data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus target price of $120.17.

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.