Beacon Roofing Supply (BECN) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.77 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.76. The company posted revenue of $1152.70 million in the period, compared to analysts expectations of $1152.64 million. The company’s revenue was up 60.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.
Many Wall Street Analysts have commented on Beacon Roofing Supply. Jefferies Initiated Beacon Roofing Supply on Jul 6, 2016 to “Hold”, Price Target of the shares are set at $46.BB&T Capital Mkts Upgraded Beacon Roofing Supply on Jun 10, 2016 to ” Buy”, Price Target of the shares are set at $51.
Beacon Roofing Supply closed down -0.62 points or -1.30% at $47.02 with 5,26,878 shares getting traded on Friday. Post opening the session at $47.5, the shares hit an intraday low of $46.71 and an intraday high of $47.595 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jul 11, 2016, Ross D Cooper (Executive Vice President, GC) sold 8,403 shares at $47.50 per share price. According to the SEC, on Jun 27, 2016, Robert R Buck (Chairman) sold 17,556 shares at $45.37 per share price. On Feb 10, 2016, Wilson B Sexton (director) sold 7,385 shares at $37.29 per share price, according to the Form-4 filing with the securities and exchange commission.
Beacon Roofing Supply Inc. is engaged in distributing residential and non-residential roofing materials in the United States and Canada. The Company also distributes other complementary building materials including siding windows specialty lumber products and waterproofing systems for residential and nonresidential building exteriors. As of September 30 2013 the Company operated 236 branches in 39 states and six Canadian provinces carrying up to 11000 stock keeping units (SKUs). It is a distributor of roofing materials in metropolitan markets in the Northeast Mid-Atlantic Midwest Central Plains West South and Southwest regions of the United States and across Canada. The Companys customer base consists of more than 47000 contractors home builders building owners and other resellers primarily in the Northeast Mid-Atlantic Midwest Central Plains West South and Southwest regions of the United States and across Canada.