Boise Cascade (NYSE:BCC) Releases Earnings Results, Beats Estimates By $0.16 EPS

Boise Cascade (NYSE:BCC) announced its earnings results on Monday. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16, Briefing.com reports. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business earned $3.67 earnings per share. Boise Cascade’s revenue was down 1.0% compared to the same quarter last year.

Boise Cascade Price Performance

BCC stock opened at $129.63 on Wednesday. The stock has a 50-day simple moving average of $127.64 and a 200-day simple moving average of $134.62. The firm has a market cap of $5.12 billion, a P/E ratio of 10.54 and a beta of 1.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.05 and a current ratio of 3.24. Boise Cascade has a 1 year low of $87.32 and a 1 year high of $154.67.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s payout ratio is currently 6.83%.

Insider Buying and Selling

In other news, SVP Jill Twedt sold 1,852 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $135.00, for a total transaction of $250,020.00. Following the transaction, the senior vice president now directly owns 37,437 shares of the company’s stock, valued at $5,053,995. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Jill Twedt sold 1,852 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the transaction, the senior vice president now owns 37,437 shares of the company’s stock, valued at $5,053,995. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Robert Strom sold 2,500 shares of Boise Cascade stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total value of $337,500.00. Following the sale, the executive vice president now owns 43,353 shares in the company, valued at $5,852,655. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. The Goldman Sachs Group dropped their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Truist Financial cut their price target on shares of Boise Cascade from $175.00 to $159.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Finally, StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $126.00.

Boise Cascade Company Profile

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.