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BECN

Beacon Roofing

$37.55

-0.745 (-1.95%)

16:05
05/07/19
05/07
16:05
05/07/19
16:05

Beacon Roofing reports Q2 adjusted EPS (45c), consensus (51c)

Reports Q2 revenue $1.43B, consensus $1.38B. The company said, "We produced positive organic sales growth, highlighted by a daily sales increase of nearly 5% in residential roofing, despite the harsh weather adversely impacting quarterly demand (as noted in our March 25 press release). In an effort to help mitigate the challenging weather patterns, we were able to implement more aggressive late-quarter cost controls to match the unusually soft seasonal environment. We once again exhibited attractive price-cost performance in the second quarter, as we have done in each of the past four quarters. Importantly, the winter is now behind us and existing market sales accelerated the last several weeks of March, and that momentum has continued into April. Through key initiatives, including digital, private label, and complementary products, coupled with new branch openings, we are continuing to expand our competitive advantage in the marketplace. We remain firmly committed to reaching our long-term sales and margin objectives."

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BECN Beacon Roofing
$37.55

-0.745 (-1.95%)

02/25/19
BUCK
02/25/19
INITIATION
BUCK
Neutral
Beacon Roofing initiated with a Neutral at Buckingham
Buckingham analyst Megan McGrath initiated Beacon Roofing with a Neutral and $38 price target citing uncertainties around the Allied integration and roofing demand. McGrath would like to see a positive turn in roofing or EBITDA margin improvement before turning more positive on shares.
02/25/19
02/25/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Antares Pharma (ATRS) initiated with an Outperform at Cowen. 2. New Fortress Energy (NFE) initiated with a Buy at Citi and Stifel, an Overweight at Morgan Stanley, an Equal Weight at Barclays and an Oupterform at JMP Securities and Evercore ISI. 3. Aurora Cannabis (ACB), CannTrust Holdings (CNTTF), Flowr (FLWPF), Organigram (OGRMF) and The Green Organic Dutchman (TGODF) initiated with a Buy at Jefferies, Canopy Growth (CGC) and Emerald Health Therapeutics (EMHTF) initiated with a Hold, Cronos Group (CRON) and HEXO (HEXO) initiated with an Underperform. 4. Pulse Biosciences (PLSE) initiated with a Buy at H.C. Wainwright. 5. Beacon Roofing (BECN) initiated with a Neutral at Buckingham, while the firm initiated BMC Stock Holdings (BMCH) and TopBuild (BLD) with a Buy. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/26/19
JPMS
03/26/19
NO CHANGE
Target $36.5
JPMS
Neutral
Beacon Roofing Q2 miss negative for Owens Corning, says JPMorgan
Largely driven by the quarter's harsh weather, Beacon Roofing Supply (BECN) last night announced weaker than expected preliminary Q2 results, JPMorgan analyst Michael Rehaut tells investors in a research note. The preannouncement is a negative read-through for Owens Corning (OC), adds the analyst, who points out that his Q1 earnings per share estimate of 52c is already below the Street's 61c consensus. The analyst keeps a Neutral rating on Beacon Roofing with a $36.50 price target. The stock's valuation appropriately reflects the company's temporarily elevated leverage, recent challenges surrounding sales consistency and guidance, as well as upside potential over the next two years from the Allied integration, says Rehaut.
03/26/19
RHCO
03/26/19
NO CHANGE
Target $44
RHCO
Buy
Beacon Roofing weather-related disruptions should be limited, says SunTrust
SunTrust analyst Keith Hughes kept his Buy rating and $44 price target on Beacon Roofing after its negative Q2 pre-announcement yesterday. The analyst notes that while adverse weather factors reduced expectations, the outlook for the rest of the year suggests "minimal impact in future quarters". Hughes adds that roofing can actually see benefits from weather factors over the medium term as replacement demand rises, further stating that he is still assessing the latest "notable hail activity" most recently reported in Dallas.

TODAY'S FREE FLY STORIES

CVNA

Carvana

$66.99

-0.175 (-0.26%)

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INSM

Insmed

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-1.71 (-6.09%)

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LOW

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1.86 (1.70%)

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TGT

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SPY

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NEO

NeoGenomics

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BAM

Brookfield

$47.03

0.02 (0.04%)

, BX

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GOLD

Barrick Gold

$12.12

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SE

Sea Limited

$25.38

-0.42 (-1.63%)

19:04
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SE

Sea Limited

$25.38

-0.42 (-1.63%)

19:02
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SNE

Sony

$51.01

-1.195 (-2.29%)

18:48
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  • 10

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OOMA

Ooma

$14.49

-0.45 (-3.01%)

, CVI

CVR Energy

$47.29

0.9 (1.94%)

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$14.49

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CVI

CVR Energy

$47.29

0.9 (1.94%)

PVH

PVH Corp.

$108.53

2.5075 (2.37%)

PSTG

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$20.60

0.6 (3.00%)

JWN

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$37.88

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URBN

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TOL

Toll Brothers

$38.34

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ONCS

OncoSec

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EKSO

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LIQT

LiqTech

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TREX

Trex Company

$61.44

2.38 (4.03%)

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CRMT

America's Car-Mart

$101.76

1.74 (1.74%)

18:34
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JCOM

j2 Global

$87.23

0.75 (0.87%)

18:25
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NVS

Novartis

$82.38

0.36 (0.44%)

18:24
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EADSY

Airbus

$0.00

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AGRO

Adecogro

$6.50

0.07 (1.09%)

18:19
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GOOG

Alphabet

$1,149.14

10.81 (0.95%)

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$1,154.26

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HAIN

Hain Celestial

$23.90

0.45 (1.92%)

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NTDOY

Nintendo

$0.00

(0.00%)

17:48
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  • 08

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URBN

Urban Outfitters

$27.01

0.05 (0.19%)

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  • 21

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GLD

SPDR Gold Shares

$120.34

-0.31 (-0.26%)

17:42
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Hot Stocks
SPDR Gold Shares holdings rise to 739.69MT from 736.17MT »

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ASCMA

Ascent Capital

$0.91

0.0502 (5.87%)

17:38
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Hot Stocks
Ascent Capital and Monitronics International announce restructuring support pact »

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TRS

TriMas

$30.33

0.39 (1.30%)

17:33
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Hot Stocks
TriMas VP Joshua Sherbin sells over $646K in company shares »

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