Builders FirstSource (NYSE:BLDR) Announces Earnings Results

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

Builders FirstSource Stock Up 1.3 %

NYSE:BLDR traded up $2.31 on Thursday, hitting $179.09. 1,826,371 shares of the company’s stock were exchanged, compared to its average volume of 1,116,530. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. The firm has a 50-day moving average price of $184.58 and a 200-day moving average price of $168.44. The company has a market cap of $20.86 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 10.17 and a beta of 2.08. Builders FirstSource has a 52 week low of $120.80 and a 52 week high of $214.70.

Builders FirstSource declared that its Board of Directors has authorized a share buyback program on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

BLDR has been the subject of several recent analyst reports. Royal Bank of Canada raised their price target on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays boosted their price target on Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Benchmark cut their price objective on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird boosted their price objective on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, B. Riley cut their price objective on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.47.

About Builders FirstSource

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.