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

Builders FirstSource (NYSE:BLDR) released 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 net margin of 8.25% and a return on equity of 37.05%. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the previous year, the business posted $4.24 EPS. Builders FirstSource’s revenue was down 6.7% on a year-over-year basis. Builders FirstSource updated its FY 2024 guidance to EPS.

Builders FirstSource Trading Up 1.3 %

BLDR stock traded up $2.31 during mid-day trading on Thursday, reaching $179.09. 1,826,371 shares of the stock traded hands, compared to its average volume of 1,116,530. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. Builders FirstSource has a one year low of $120.80 and a one year high of $214.70. The stock has a market capitalization of $20.86 billion, a PE ratio of 15.72, a PEG ratio of 10.17 and a beta of 2.08. The business has a 50-day moving average price of $184.58 and a two-hundred day moving average price of $168.44.

Builders FirstSource declared that its board has authorized a share buyback plan on Tuesday, August 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BLDR shares. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Bank of America boosted their price target on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. B. Riley lowered their price objective on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, UBS Group started coverage on shares of Builders FirstSource in a research report on Friday, October 25th. They issued a “buy” rating and a $232.00 price target on the stock. 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.