Positive News Coverage Somewhat Unlikely to Impact Beacon Roofing Supply (BECN) Stock Price

News articles about Beacon Roofing Supply (NASDAQ:BECN) have trended positive this week, according to Accern Sentiment Analysis. The research group identifies positive and negative news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Beacon Roofing Supply earned a media sentiment score of 0.26 on Accern’s scale. Accern also gave headlines about the company an impact score of 45.475459102594 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

Several equities analysts have recently commented on the company. Royal Bank Of Canada cut their price target on Beacon Roofing Supply from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. KeyCorp restated a “buy” rating and set a $56.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday, September 12th. SunTrust Banks, Inc. restated a “buy” rating on shares of Beacon Roofing Supply in a research note on Tuesday, September 12th. BidaskClub lowered Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Wedbush restated a “neutral” rating and set a $47.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Beacon Roofing Supply currently has a consensus rating of “Buy” and a consensus price target of $52.00.

Shares of Beacon Roofing Supply (BECN) opened at 48.68 on Friday. Beacon Roofing Supply has a 12 month low of $39.50 and a 12 month high of $52.12. The company’s 50-day moving average price is $44.89 and its 200-day moving average price is $47.71. The company has a market cap of $2.94 billion, a P/E ratio of 28.91 and a beta of 1.30.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.06). Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the company earned $0.77 EPS. Beacon Roofing Supply’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts forecast that Beacon Roofing Supply will post $2.20 EPS for the current fiscal year.

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About Beacon Roofing Supply

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

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