FY2024 EPS Estimates for Boise Cascade (NYSE:BCC) Lowered by Analyst

Boise Cascade (NYSE:BCC) – Equities research analysts at DA Davidson cut their FY2024 earnings per share (EPS) estimates for shares of Boise Cascade in a report released on Thursday, April 25th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings of $11.51 per share for the year, down from their previous forecast of $11.69. The consensus estimate for Boise Cascade’s current full-year earnings is $11.44 per share.

A number of other brokerages have also recently issued reports on BCC. Truist Financial lifted their target price on shares of Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. The Goldman Sachs Group lifted their price objective on Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Finally, StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $125.00.

Boise Cascade Trading Down 4.3 %

NYSE:BCC opened at $132.30 on Monday. Boise Cascade has a 52-week low of $66.82 and a 52-week high of $154.67. The company has a quick ratio of 2.26, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $139.77 and a 200-day simple moving average of $126.59. The company has a market capitalization of $5.23 billion, a PE ratio of 10.92 and a beta of 1.60.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.01). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.95 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. purchased a new stake in Boise Cascade in the third quarter valued at approximately $2,682,000. Jackson Creek Investment Advisors LLC acquired a new position in shares of Boise Cascade in the 4th quarter valued at $1,200,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Boise Cascade by 54.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock valued at $7,596,000 after purchasing an additional 20,712 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Boise Cascade by 81.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 8,135 shares of the construction company’s stock valued at $1,052,000 after buying an additional 3,660 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Boise Cascade by 23.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,241 shares of the construction company’s stock worth $952,000 after buying an additional 1,772 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Insider Activity at Boise Cascade

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of Boise Cascade stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 40,237 shares of the company’s stock, valued at approximately $5,596,564.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.05% of the company’s stock.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Thursday, February 22nd. Boise Cascade’s dividend payout ratio is presently 6.60%.

About Boise Cascade

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.