Boise Cascade Co (NYSE:BCC) – Equities research analysts at Seaport Global Securities lowered their Q3 2019 EPS estimates for Boise Cascade in a report issued on Monday, August 5th, according to Zacks Investment Research. Seaport Global Securities analyst R. Garner now forecasts that the construction company will post earnings of $0.75 per share for the quarter, down from their previous forecast of $0.76. Seaport Global Securities also issued estimates for Boise Cascade’s Q4 2019 earnings at $0.06 EPS.
A number of other research firms have also recently issued reports on BCC. Zacks Investment Research raised Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research note on Thursday, August 8th. ValuEngine raised Boise Cascade from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Bank of America lowered Boise Cascade from a “neutral” rating to an “underperform” rating and set a $22.00 price target on the stock. in a report on Friday, July 12th. Finally, Goldman Sachs Group upgraded Boise Cascade from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $31.80.
Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 5th. The construction company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.21. Boise Cascade had a positive return on equity of 8.46% and a negative net margin of 0.41%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. The company’s revenue was down 12.6% on a year-over-year basis.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cable Hill Partners LLC bought a new stake in Boise Cascade during the first quarter worth about $27,000. Tower Research Capital LLC TRC raised its holdings in Boise Cascade by 680.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the construction company’s stock worth $44,000 after acquiring an additional 1,360 shares in the last quarter. FMR LLC raised its holdings in Boise Cascade by 436.4% during the first quarter. FMR LLC now owns 3,331 shares of the construction company’s stock worth $89,000 after acquiring an additional 2,710 shares in the last quarter. Advisory Services Network LLC bought a new stake in Boise Cascade during the second quarter worth about $115,000. Finally, Investors Research Corp bought a new stake in Boise Cascade during the first quarter worth about $120,000. Institutional investors and hedge funds own 89.94% of the company’s stock.
In other news, Director Kristopher J. Matula purchased 3,500 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were bought at an average cost of $23.12 per share, for a total transaction of $80,920.00. Following the completion of the acquisition, the director now directly owns 14,049 shares in the company, valued at approximately $324,812.88. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dean Michael Brown sold 3,947 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $29.91, for a total value of $118,054.77. Following the completion of the sale, the executive vice president now owns 29,196 shares in the company, valued at $873,252.36. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a $0.09 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.25%. Boise Cascade’s dividend payout ratio (DPR) is 15.72%.
Boise Cascade Company Profile
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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; and structural, appearance, and industrial plywood panels.
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