Builders FirstSource (NYSE:BLDR) Posts Earnings Results, Misses Estimates By $0.02 EPS

Builders FirstSource (NYSE:BLDR) announced its quarterly earnings results on Tuesday. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02), Briefing.com reports. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the previous year, the company posted $4.24 EPS. The firm’s revenue was down 6.7% on a year-over-year basis. Builders FirstSource updated its FY 2024 guidance to EPS.

Builders FirstSource Trading Down 3.2 %

NYSE BLDR traded down $5.74 during trading on Wednesday, hitting $175.25. 2,142,444 shares of the company’s stock traded hands, compared to its average volume of 1,572,148. The firm has a market cap of $20.41 billion, a P/E ratio of 15.44, a PEG ratio of 10.15 and a beta of 2.08. Builders FirstSource has a 12-month low of $120.80 and a 12-month high of $214.70. The stock has a fifty day moving average of $184.50 and a two-hundred day moving average of $168.39. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14.

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the sale, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BLDR. Jefferies Financial Group raised their price objective on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group initiated coverage on shares of Builders FirstSource in a research note on Friday, October 25th. They issued a “buy” rating and a $232.00 price objective for the company. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Monday, September 23rd. Wedbush restated an “outperform” rating and set a $230.00 price target on shares of Builders FirstSource in a research note on Wednesday. Finally, Bank of America upped their price objective on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Builders FirstSource currently has an average rating of “Moderate Buy” and an average target price of $206.88.

Builders FirstSource declared that its Board of Directors has approved a share repurchase program on Tuesday, August 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Builders FirstSource Company Profile

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.