Shares of Beacon Roofing Supply, Inc. (BECN - Free Report) touched a new 52-week high of $50.22 on Mar 16, before closing the day at $50.06. Shares of this distributor of roofing materials and building products have rallied on the back of the company’s upbeat first-quarter fiscal 2017 results, expected benefits from acquisitions as well as sustained demand in re-roofing activity.
The company has a market cap of $3.01 billion. Beacon Roofing’s earnings beat the Zacks Consensus Estimate in three out of the trailing four quarters, with an average positive surprise of 28.08%. The average volume of shares traded over the last three months was roughly 438K.
Beacon Roofing’s shares have outperformed the Zacks categorized Building Products-Retail/Wholesale industry in the past one year. The shares have gained 25.9% while the industry registered an increase of 11.4% in the same time frame.
Growth Drivers
Beacon Roofing’s share price has increased 12.9% since the fiscal first-quarter result announcement on Feb 2. Adjusted earnings of 44 cents was grew 7% year over year. Sales were a record $1.002 billion, up 2.6% year over year. Interestingly, this was the third consecutive quarter of sales exceeding $1 billion. The quarter marked the company’s 11th consecutive quarter of residential organic sales and the ninth straight quarter of year-over-year gross margin expansion. It was also the first quarter in which gross margin improved more than 100 basis points (bps).
For fiscal 2017, the company expects total revenue growth in the range of 3–7%, which assumes 2–5% organic and 1–2% incremental contribution from acquisitions made in fiscal 2016. EBITDA will likely be in the range of $365–$395 million, which translates to EBITDA margins of 8.6–8.9%.
Beacon Roofing Supply, Inc. Price and Consensus
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Shares of Beacon Roofing Supply, Inc. (BECN - Free Report) touched a new 52-week high of $50.22 on Mar 16, before closing the day at $50.06. Shares of this distributor of roofing materials and building products have rallied on the back of the company’s upbeat first-quarter fiscal 2017 results, expected benefits from acquisitions as well as sustained demand in re-roofing activity.
The company has a market cap of $3.01 billion. Beacon Roofing’s earnings beat the Zacks Consensus Estimate in three out of the trailing four quarters, with an average positive surprise of 28.08%. The average volume of shares traded over the last three months was roughly 438K.
Beacon Roofing’s shares have outperformed the Zacks categorized Building Products-Retail/Wholesale industry in the past one year. The shares have gained 25.9% while the industry registered an increase of 11.4% in the same time frame.
Growth Drivers
Beacon Roofing’s share price has increased 12.9% since the fiscal first-quarter result announcement on Feb 2. Adjusted earnings of 44 cents was grew 7% year over year. Sales were a record $1.002 billion, up 2.6% year over year. Interestingly, this was the third consecutive quarter of sales exceeding $1 billion. The quarter marked the company’s 11th consecutive quarter of residential organic sales and the ninth straight quarter of year-over-year gross margin expansion. It was also the first quarter in which gross margin improved more than 100 basis points (bps).
For fiscal 2017, the company expects total revenue growth in the range of 3–7%, which assumes 2–5% organic and 1–2% incremental contribution from acquisitions made in fiscal 2016. EBITDA will likely be in the range of $365–$395 million, which translates to EBITDA margins of 8.6–8.9%.
Beacon Roofing Supply, Inc. Price and Consensus
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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