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BECN

Beacon Roofing

$42.46

0.38 (0.90%)

17:14
08/07/18
08/07
17:14
08/07/18
17:14

Beacon Roofing cuts FY18 adjusted EPS view to $3.00-$3.10 from $3.35-$3.55

Consensus $3.38. Lowers FY18 revenue view to $6.45B-$6.55B from $6.75B-$7.0B, consensus $6.83B. Sees FY18 adjusted EBITDA $510M-$520M. Guidance taken from the company's Q3 earnings call slides.

  • 07

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    Aug

  • 20

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    Aug

BECN Beacon Roofing
$42.46

0.38 (0.90%)

07/12/18
WBLR
07/12/18
NO CHANGE
WBLR
Outperform
William Blair cautious into Beacon earnings after roofing survey
William Blair analyst Ryan Merkel says his firm's latest roofing survey was softer than expected for volumes and price/cost. The analyst lowered his 2018 earnings per share estimate for Beacon Roofing Supply to $3.05 and 2019 estimate to $4.21 and sees the company's fiscal Q3 earnings at $1.19, below the consensus at $1.33, due to lower sales and gross margin. While expectations are low, low-single-digit organic sales growth and negative price/cost of 40-60 basis points could cause shares to trade lower, Merkel tells investors in a pre-earnings research note. Ultimately, he believes a "softer 2018 is payback for a stellar roofing market in 2017." The analyst, however, does not think the core re-roofing market cycle is slowing and believes negative price/cost is temporary. While cautious into the Q3 earnings print, Merkel still sees upside in the stock to $47 using 10.5 times his 2019 adjusted EBITDA estimate. He keeps an Outperform rating on Beacon Roofing.
07/20/18
SPHN
07/20/18
UPGRADE
SPHN
Overweight
Beacon Roofing upgraded to Overweight from Equal Weight at Stephens
07/20/18
07/20/18
UPGRADE
Target $52

Overweight
Beacon Roofing upgraded to Overweight with $52 price target at Stephens
As previously reported, Stephens analyst Trey Grooms upgraded Beacon Roofing to Overweight from Equal Weight, pointing out that his industry checks show distributors have been able to make up some lost ground over the busier selling months and noting that roofing manufacturers have pushed through three separate price increases year-to-date and plan for another in the August/September time frame. While near-term volume "might not be anything to get overly excited about," he thinks the pricing and margin picture is improving, Grooms tells investors. He raised his price target on Beacon shares to $52 from $45
07/20/18
07/20/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. American Express (AXP) upgraded to Buy from Hold at DZ Bank. 2. Duke Energy (DUK) upgraded to Neutral from Sell at Citi with analyst Praful Mehta saying Duke has dealt with his primary concern about its credit following tax reform with its recent deals. 3. Anixter (AXE) upgraded to Buy from Neutral at Longbow with analyst Shawn Harrison citing checks which showed that North American enterprise spending accelerated as the second quarter progressed while industrial spending grew in the high-single to low double digits. 4. RLI Corp. (RLI) upgraded to Sector Perform from Underperform at RBC Capital with analyst Mark Dwelle saying the company has "resolved reserve and margin concerns" that previously drove his negative view, with the re-emergence of growth placing its earnings and return on equity on a more "favorable track." 5. Beacon Roofing (BECN) upgraded to Overweight from Equal Weight at Stephens with analyst Trey Grooms pointing out that his industry checks show distributors have been able to make up some lost ground over the busier selling months and noting that roofing manufacturers have pushed through three separate price increases year-to-date and plan for another in the August/September time frame. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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