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

Builders FirstSource (NYSE:BLDR) released its quarterly earnings data on Tuesday. The company reported $3.07 earnings per share 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 company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the previous year, the firm earned $4.24 earnings per share. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. Builders FirstSource updated its FY 2024 guidance to EPS.

Builders FirstSource Stock Down 2.9 %

Shares of BLDR stock traded down $5.23 during mid-day trading on Wednesday, hitting $175.76. The stock had a trading volume of 2,248,723 shares, compared to its average volume of 1,572,388. Builders FirstSource has a 12-month low of $120.80 and a 12-month high of $214.70. 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’s 50-day moving average is $184.50 and its two-hundred day moving average is $168.39. The firm has a market capitalization of $20.47 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 10.15 and a beta of 2.08.

Builders FirstSource announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BLDR has been the subject of several research reports. Bank of America upped their price target on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Jefferies Financial Group increased their price target on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Barclays boosted their price objective on shares of Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and raised their target price for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Finally, The Goldman Sachs Group assumed coverage on Builders FirstSource in a research report on Thursday, October 10th. They issued a “buy” rating and a $225.00 price target for the company. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $206.88.

Insiders Place Their Bets

In related news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the transaction, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is owned by company insiders.

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.