Boise Cascade (NYSE:BCC) Announces Earnings Results

Boise Cascade (NYSE:BCC) announced its earnings results on Monday. The construction company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08), FiscalAI reports. The company had revenue of $1.80 billion for 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’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 EPS.

Boise Cascade Stock Performance

Boise Cascade stock opened at $75.28 on Tuesday. The firm has a market capitalization of $2.63 billion, a P/E ratio of 25.52, a PEG ratio of 0.97 and a beta of 1.08. The stock has a fifty day moving average price of $76.30 and a 200 day moving average price of $77.24. Boise Cascade has a 52 week low of $65.00 and a 52 week high of $91.97. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Tuesday, December 1st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, December 1st. Boise Cascade’s dividend payout ratio is presently 31.19%.

Insider Transactions at Boise Cascade

In other news, SVP Jill Twedt sold 1,250 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.40, for a total transaction of $99,250.00. Following the completion of the transaction, the senior vice president owned 25,295 shares of the company’s stock, valued at $2,008,423. This represents a 4.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kristopher J. Matula sold 1,930 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the transaction, the director owned 13,982 shares in the company, valued at approximately $1,182,597.56. The trade was a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.42% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BCC. Zacks Research downgraded Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. DA Davidson boosted their target price on shares of Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group upped their target price on shares of Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Saturday. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $92.00.

Boise Cascade Company Profile

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.