Boise Cascade (NYSE:BCC) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Boise Cascade (NYSE:BCC) announced its quarterly earnings results on Monday. The construction company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.07, FiscalAI reports. Boise Cascade had a net margin of 2.07% and a return on equity of 6.54%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion.

Boise Cascade Stock Down 5.0%

BCC traded down $3.89 during trading on Monday, reaching $74.24. The company had a trading volume of 990,750 shares, compared to its average volume of 415,705. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.36 and a quick ratio of 1.74. Boise Cascade has a 12 month low of $65.14 and a 12 month high of $95.72. The business’s fifty day moving average price is $77.55 and its 200 day moving average price is $77.14. The company has a market cap of $2.66 billion, a P/E ratio of 21.09, a PEG ratio of 1.13 and a beta of 1.15.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Boise Cascade’s payout ratio is presently 25.00%.

Institutional Trading of Boise Cascade

Institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its position in shares of Boise Cascade by 231.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after purchasing an additional 259 shares in the last quarter. Advisory Services Network LLC acquired a new position in Boise Cascade in the 3rd quarter valued at about $38,000. UMB Bank n.a. grew its stake in Boise Cascade by 98.5% in the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after buying an additional 260 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in shares of Boise Cascade in the third quarter valued at about $44,000. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Boise Cascade by 662.4% in the third quarter. CIBC Private Wealth Group LLC now owns 648 shares of the construction company’s stock valued at $50,000 after acquiring an additional 563 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Truist Financial lowered their price objective on shares of Boise Cascade from $103.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Wall Street Zen upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. DA Davidson restated a “buy” rating and issued a $95.00 price objective on shares of Boise Cascade in a research report on Tuesday, February 24th. The Goldman Sachs Group raised their price objective on shares of Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.20.

Boise Cascade Company Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.