Boise Cascade, L.L.C. (BCC) to Issue Quarterly Dividend of $0.23 on September 16th

Boise Cascade, L.L.C. (NYSE:BCC) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Tuesday, September 1st will be given a dividend of 0.23 per share by the construction company on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a 4.5% increase from Boise Cascade’s previous quarterly dividend of $0.22.

Boise Cascade has decreased its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Boise Cascade has a dividend payout ratio of 10.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Boise Cascade to earn $5.53 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 15.9%.

Boise Cascade Trading Up 1.4%

Shares of Boise Cascade stock opened at $76.42 on Friday. The company’s fifty day simple moving average is $73.77 and its 200-day simple moving average is $76.96. Boise Cascade has a 1-year low of $65.00 and a 1-year high of $91.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.37. The stock has a market capitalization of $2.69 billion, a PE ratio of 25.82, a P/E/G ratio of 1.04 and a beta of 1.08.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.43 by $0.07. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 earnings per share. As a group, equities analysts anticipate that Boise Cascade will post 3.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BCC. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Bank of America raised their price objective on Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research note on Tuesday, July 14th. Zacks Research upgraded Boise Cascade from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Truist Financial set a $97.00 price target on Boise Cascade in a report on Wednesday, May 6th. Finally, DA Davidson reduced their price objective on Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Boise Cascade has an average rating of “Moderate Buy” and a consensus price target of $92.80.

About Boise Cascade

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.