Boise Cascade (NYSE:BCC) Issues Quarterly Earnings Results

Boise Cascade (NYSE:BCC) issued its quarterly earnings data on Monday. The construction company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08), FiscalAI reports. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.76 billion.

Boise Cascade Stock Performance

Shares of NYSE BCC traded down $3.54 during midday trading on Monday, reaching $75.28. 963,170 shares of the stock were exchanged, compared to its average volume of 400,332. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.03 and a beta of 1.08. The company has a quick ratio of 1.31, a current ratio of 2.71 and a debt-to-equity ratio of 0.24. The firm has a 50-day simple moving average of $76.45 and a two-hundred day simple moving average of $77.28. Boise Cascade has a twelve month low of $65.00 and a twelve month high of $91.97.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Tuesday, December 1st will be given 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 currently 31.19%.

Insider Transactions at Boise Cascade

In related news, SVP Jill Twedt sold 1,250 shares of the company’s stock in a transaction dated 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 owned 25,295 shares of the company’s stock, valued at approximately $2,008,423. This represents a 4.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kristopher Matula sold 1,930 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $163,239.40. Following the transaction, the director directly owned 13,982 shares of the company’s stock, valued at approximately $1,182,597.56. The trade was a 12.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. The Goldman Sachs Group raised their price target on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. DA Davidson increased their target price on shares of Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Bank of America cut their target price on shares of Boise Cascade from $89.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 14th. Wall Street Zen downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $92.00.

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.