Beacon Roofing Earnings Estimate
Beacon Roofing Earnings per Share Projection vs Actual
About Beacon Roofing Earnings Estimate
The earnings estimate module is a useful tool to check what professional financial analysts are assuming about the future of Beacon Roofing earnings. We show available consensus EPS estimates for the upcoming years and quarters. Investors can also examine how these consensus opinions have evolved historically. We show current Beacon Roofing estimates, future projections, as well as estimates 1, 2, and three years ago. Investors can search for a specific entity to conduct investment planning and build diversified portfolios. Please note, earnings estimates provided by Macroaxis are the average expectations of expert analysts that we track. If a given stock such as Beacon Roofing fails to match professional earnings estimates, it usually performs purely. Wall Street refers to that as a 'negative surprise.' If a company 'beats' future estimates, it's usually called an 'upside surprise.'
Please read more on our stock advisor page.Beacon Roofing Supply, Inc., together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. Beacon Roofing Supply, Inc. was founded in 1928 and is headquartered in Herndon, Virginia. Beacon Roofing operates under Building Products Equipment classification in the United States and is traded on NASDAQ Exchange.
Pair Trading with Beacon Roofing
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Beacon Roofing position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Beacon Roofing will appreciate offsetting losses from the drop in the long position's value.Moving together with Beacon Stock
Moving against Beacon Stock
The ability to find closely correlated positions to Beacon Roofing could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Beacon Roofing when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Beacon Roofing - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Beacon Roofing Supply to buy it.
The correlation of Beacon Roofing is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Beacon Roofing moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Beacon Roofing Supply moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Beacon Roofing can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators. You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Consideration for investing in Beacon Stock
If you are still planning to invest in Beacon Roofing Supply check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Beacon Roofing's history and understand the potential risks before investing.
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