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

Boise Cascade (NYSE:BCC) posted its quarterly earnings results on Monday. The construction company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07, FiscalAI reports. Boise Cascade had a return on equity of 6.54% and a net margin of 2.07%.The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the firm earned $1.06 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year.

Boise Cascade Trading Down 5.0%

BCC stock opened at $74.24 on Tuesday. The firm has a fifty day moving average price of $77.55 and a 200 day moving average price of $77.14. Boise Cascade has a fifty-two week low of $65.14 and a fifty-two week high of $95.72. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.74 and a current ratio of 3.36. The firm has a market cap of $2.66 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.15.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, June 1st. Boise Cascade’s dividend payout ratio is currently 25.00%.

Wall Street Analysts Forecast Growth

BCC has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 30th. BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. Wall Street Zen raised Boise Cascade from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Truist Financial lowered their price target on Boise Cascade from $103.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC grew its holdings in shares of Boise Cascade by 3.8% in the second quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock valued at $284,000 after purchasing an additional 121 shares in the last quarter. Raymond James Financial Inc. grew its holdings in shares of Boise Cascade by 1.0% in the second quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock valued at $1,148,000 after purchasing an additional 126 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings 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 valued at $29,000 after purchasing an additional 259 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Boise Cascade by 98.5% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after purchasing an additional 260 shares in the last quarter. Finally, Arax Advisory Partners grew its holdings in shares of Boise Cascade by 47.2% in the fourth quarter. Arax Advisory Partners now owns 964 shares of the construction company’s stock valued at $71,000 after purchasing an additional 309 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

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.