Builders FirstSource (NYSE:BLDR) Issues Quarterly Earnings Results

Builders FirstSource (NYSE:BLDR) released its quarterly earnings data 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. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. Builders FirstSource’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm earned $4.24 earnings per share. Builders FirstSource updated its FY 2024 guidance to EPS.

Builders FirstSource Stock Performance

BLDR traded down $0.27 on Thursday, reaching $176.51. The stock had a trading volume of 165,510 shares, compared to its average volume of 1,570,962. Builders FirstSource has a 12-month low of $120.80 and a 12-month high of $214.70. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. The business’s 50-day moving average price is $184.58 and its two-hundred day moving average price is $168.44. The company has a market cap of $20.55 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 10.15 and a beta of 2.08.

Analyst Ratings Changes

BLDR has been the subject of several research reports. Jefferies Financial Group upped 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. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and upped their price target for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Benchmark lowered their price target on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Bank of America increased their target price 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. Finally, B. Riley decreased their target price on shares of 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 investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Builders FirstSource has a consensus rating of “Moderate Buy” and an average price target of $206.88.

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