Boise Cascade (NYSE:BCC) Announces Quarterly Earnings Results, Beats Expectations By $0.31 EPS

Boise Cascade (NYSE:BCC) announced its quarterly earnings data on Monday. The construction company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.31, Briefing.com reports. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.56 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. Boise Cascade’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.43 earnings per share.

Boise Cascade Stock Performance

Shares of BCC stock opened at $133.23 on Thursday. Boise Cascade has a 12-month low of $71.50 and a 12-month high of $154.67. The business has a 50 day simple moving average of $140.31 and a 200 day simple moving average of $128.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 10.83 and a beta of 1.64.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Monday, June 3rd. Boise Cascade’s dividend payout ratio (DPR) is presently 6.50%.

Wall Street Analyst Weigh In

BCC has been the subject of several research analyst reports. Truist Financial boosted their price objective on Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, March 21st. StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, The Goldman Sachs Group upped their target price on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $125.00.

Insider Activity at Boise Cascade

In related news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $139.09, for a total value of $1,546,263.53. Following the completion of the transaction, the executive vice president now owns 40,237 shares in the company, valued at approximately $5,596,564.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.05% of the company’s stock.

Boise Cascade Company Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through 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 shop lumber and appearance grade boards.