Boise Cascade Co (NYSE:BCC) – Seaport Global Securities issued their Q1 2019 earnings per share estimates for shares of Boise Cascade in a research note issued to investors on Wednesday, November 7th. Seaport Global Securities analyst R. Garner expects that the construction company will post earnings of $0.62 per share for the quarter. Seaport Global Securities also issued estimates for Boise Cascade’s Q2 2019 earnings at $1.05 EPS, Q3 2019 earnings at $0.67 EPS, Q4 2019 earnings at $0.41 EPS, FY2019 earnings at $2.75 EPS and FY2020 earnings at $3.15 EPS.
Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.01. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Boise Cascade had a return on equity of 17.97% and a net margin of 2.23%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS.
BCC has been the topic of several other reports. Zacks Investment Research raised Boise Cascade from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Wednesday, August 29th. Bank of America lowered their price target on Boise Cascade from $49.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, August 7th. BMO Capital Markets reissued a “hold” rating and set a $41.00 price target on shares of Boise Cascade in a report on Tuesday, July 17th. ValuEngine cut Boise Cascade from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. Finally, DA Davidson lowered their price target on Boise Cascade to $35.00 and set a “neutral” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $43.50.
BCC stock opened at $28.37 on Thursday. The company has a market capitalization of $1.17 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 1.05 and a beta of 2.01. Boise Cascade has a 12-month low of $28.03 and a 12-month high of $49.30. The company has a current ratio of 2.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.59.
Several large investors have recently bought and sold shares of BCC. Ceredex Value Advisors LLC purchased a new stake in shares of Boise Cascade in the 3rd quarter worth $22,647,000. BlackRock Inc. increased its stake in shares of Boise Cascade by 10.3% in the 2nd quarter. BlackRock Inc. now owns 5,648,484 shares of the construction company’s stock worth $252,488,000 after purchasing an additional 528,529 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Boise Cascade by 52.6% in the 2nd quarter. Acadian Asset Management LLC now owns 774,562 shares of the construction company’s stock worth $34,622,000 after purchasing an additional 266,849 shares in the last quarter. Northern Trust Corp increased its stake in shares of Boise Cascade by 20.2% in the 2nd quarter. Northern Trust Corp now owns 980,253 shares of the construction company’s stock worth $43,818,000 after purchasing an additional 164,841 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Boise Cascade by 36.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 589,824 shares of the construction company’s stock worth $21,706,000 after purchasing an additional 158,459 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.
In other news, CFO Wayne M. Rancourt sold 9,872 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $44.85, for a total transaction of $442,759.20. Following the transaction, the chief financial officer now directly owns 86,421 shares of the company’s stock, valued at approximately $3,875,981.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by corporate insiders.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.27%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, November 30th. Boise Cascade’s dividend payout ratio is presently 14.66%.
Boise Cascade Company Profile
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine lumber, studs, and particleboards.
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