What is William Blair’s Estimate for BECN FY2024 Earnings?

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Investment analysts at William Blair cut their FY2024 earnings estimates for Beacon Roofing Supply in a research report issued on Thursday, October 31st. William Blair analyst R. Merkel now expects that the company will post earnings per share of $7.22 for the year, down from their previous forecast of $7.51. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $7.37 per share. William Blair also issued estimates for Beacon Roofing Supply’s Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $2.68 EPS, Q3 2025 earnings at $3.05 EPS and Q4 2025 earnings at $1.85 EPS.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.47). Beacon Roofing Supply had a return on equity of 25.64% and a net margin of 3.86%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the firm posted $2.66 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis.

Several other research analysts also recently commented on the company. Royal Bank of Canada increased their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird increased their target price on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Stephens decreased their price target on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, Benchmark reaffirmed a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Beacon Roofing Supply has a consensus rating of “Moderate Buy” and an average price target of $115.00.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock opened at $93.34 on Monday. The stock has a market capitalization of $5.77 billion, a P/E ratio of 15.96 and a beta of 1.54. The business has a 50 day simple moving average of $88.96 and a two-hundred day simple moving average of $92.18. Beacon Roofing Supply has a 12 month low of $71.48 and a 12 month high of $105.42. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09.

Institutional Trading of Beacon Roofing Supply

Several institutional investors and hedge funds have recently made changes to their positions in BECN. Allspring Global Investments Holdings LLC acquired a new position in Beacon Roofing Supply during the first quarter worth approximately $26,000. Blue Trust Inc. increased its holdings in shares of Beacon Roofing Supply by 222.1% in the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares during the period. PNC Financial Services Group Inc. raised its position in Beacon Roofing Supply by 145.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after purchasing an additional 203 shares during the last quarter. GAMMA Investing LLC boosted its stake in Beacon Roofing Supply by 154.0% during the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after purchasing an additional 445 shares during the period. Finally, Central Pacific Bank Trust Division boosted its stake in Beacon Roofing Supply by 66.7% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock worth $108,000 after purchasing an additional 500 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Beacon Roofing Supply news, CFO Prithvi Gandhi purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of $82.29 per share, with a total value of $411,450.00. Following the acquisition, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at approximately $411,450. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Prithvi Gandhi bought 5,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average price of $82.29 per share, for a total transaction of $411,450.00. Following the acquisition, the chief financial officer now owns 5,000 shares in the company, valued at approximately $411,450. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction on Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction of $234,000.00. Following the sale, the insider now owns 9,131 shares in the company, valued at $821,790. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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.