Boise Cascade (NYSE:BCC) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Boise Cascade (NYSE:BCC) announced its earnings results on Monday. The construction company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08), FiscalAI reports. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.76 billion. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%.

Boise Cascade Stock Down 4.5%

Shares of BCC stock traded down $3.54 during mid-day trading on Monday, reaching $75.28. 963,170 shares of the company were exchanged, compared to its average volume of 400,347. Boise Cascade has a fifty-two week low of $65.00 and a fifty-two week high of $91.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. The company has a market capitalization of $2.63 billion, a P/E ratio of 25.52, a P/E/G ratio of 1.03 and a beta of 1.08. The business’s 50 day simple moving average is $76.45 and its 200 day simple moving average is $77.28.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, December 1st. Boise Cascade’s dividend payout ratio (DPR) is 31.19%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. The Goldman Sachs Group raised their target price on shares of Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Loop Capital cut shares of Boise Cascade from a “buy” rating to a “hold” rating and set a $85.00 target price for the company. in a research note on Monday, October 26th. Wall Street Zen downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research lowered Boise Cascade from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $92.00.

Insider Buying and Selling

In other Boise Cascade news, Director Kristopher J. Matula sold 1,930 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the sale, the director owned 13,982 shares in the company, valued at approximately $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jill Twedt sold 1,250 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total value of $99,250.00. Following the completion of the transaction, the senior vice president directly owned 25,295 shares of the company’s stock, valued at approximately $2,008,423. The trade was a 4.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.42% of the company’s stock.

About Boise Cascade

Boise Cascade Company is a U.S.-based manufacturer of engineered wood products and a wholesale distributor of building materials. Headquartered in Boise, Idaho, the company serves the residential construction, repair and remodeling, and industrial sectors primarily across the United States.

Through its Wood Products segment, Boise Cascade manufactures laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other engineered wood products used in floors, roofs, walls, and structural applications.