Business
Building on the Organic Growth of the Sector; Building Supply and Materials Companies Forecast a Strong Year
Building on the Organic Growth of the Sector; Building Supply and Materials Companies Forecast a Strong Year.
About this update from Innovest Global Inc
[{"type":"text","content":"\nNEW YORK and DELTA, British Columbia, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Investorideas.com, a leading investor news resource covering  construction, homebuilder and real estate stocks releases a snapshot looking at companies in the sector whose financials reflect steady organic growth expectations for 2019.\n In recent news, Dodge Data & Analytics (https://www.construction.com) released its 2019 Dodge Construction Outlook which predicts that total US construction starts for 2019 will be $808 billion, staying essentially even with the $807 billion estimated for 2018. They also noted, “There are, of course, mounting headwinds affecting construction, namely rising interest rates and higher material costs, but for now these have been balanced by the stronger growth for the U.S. economy, some easing of bank lending standards, still healthy market fundamentals for commercial real estate, and greater state financing for school construction and enhanced federal funding for public works.” An indicator of the global outlook bullishness was the Sika $2.5 billion Parex acquisition, the biggest deal in the European sector since July 2015. Another positive sign - Zack’s Research reported last week, “Beacon Roofing Supply came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.68 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 7.14%” Expectations are high for Builders FirstSource, Inc. (NASDAQ: BLDR) who will hold a conference call and webcast on Friday, March 1st, to discuss the company's fourth quarter 2018 financial results. Headquartered in Dallas, Texas, Builders FirstSource is the largest US supplier of building products, prefabricated components and value-added services to the professional market segment for new residential construction and repair and remodeling. The company operates in 40 states with approximately 400 locations and has a market presence in 75 of the top 100 Metropolitan Statistical Areas. Innovest Global Inc. (OTC:IVST), a conglomerate with operations in commercial and industrial products and services, biotechnology, construction and building materials, reported strong growth  in its Construction & Buildi...