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

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Research analysts at William Blair cut their FY2024 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a report released on Thursday, October 31st. William Blair analyst R. Merkel now forecasts that the company will earn $7.22 per share for the year, down from their previous estimate of $7.51. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $7.30 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.

A number of other equities research analysts have also weighed in on the company. Benchmark reissued a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Robert W. Baird increased their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their target price on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Stephens cut 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 report on Monday, August 5th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $94.97 on Monday. The firm has a fifty day simple moving average of $89.13 and a two-hundred day simple moving average of $92.18. Beacon Roofing Supply has a twelve month low of $72.09 and a twelve month high of $105.42. The company has a market capitalization of $5.88 billion, a PE ratio of 16.23 and a beta of 1.54. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the sale, the insider now owns 9,131 shares of the company’s stock, valued at approximately $821,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Beacon Roofing Supply

A number of hedge funds and other institutional investors have recently bought and sold shares of BECN. Allspring Global Investments Holdings LLC bought a new position in Beacon Roofing Supply during the first quarter valued at approximately $26,000. Blue Trust Inc. grew its holdings in shares of Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Beacon Roofing Supply by 145.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after purchasing an additional 203 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Beacon Roofing Supply by 154.0% in the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after buying an additional 445 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its stake in shares of Beacon Roofing Supply by 66.7% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock valued at $108,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 98.45% 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.