Boise Cascade Forecasted to Earn Q3 2024 Earnings of $2.28 Per Share (NYSE:BCC)

Boise Cascade (NYSE:BCC) – Equities researchers at DA Davidson issued their Q3 2024 earnings per share (EPS) estimates for Boise Cascade in a research note issued on Wednesday, August 7th. DA Davidson analyst K. Yinger anticipates that the construction company will post earnings of $2.28 per share for the quarter. The consensus estimate for Boise Cascade’s current full-year earnings is $10.41 per share.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.67 earnings per share.

Other research analysts have also recently issued reports about the company. Truist Financial reaffirmed a “buy” rating and set a $154.00 price objective (down from $159.00) on shares of Boise Cascade in a research report on Wednesday. The Goldman Sachs Group reduced their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $124.75.

Boise Cascade Trading Up 0.2 %

Shares of Boise Cascade stock traded up $0.25 during trading hours on Thursday, hitting $127.11. The company’s stock had a trading volume of 263,314 shares, compared to its average volume of 313,235. Boise Cascade has a 12 month low of $87.32 and a 12 month high of $154.67. The stock has a 50 day moving average of $127.10 and a 200 day moving average of $134.42. The company has a market capitalization of $5.02 billion, a PE ratio of 10.33 and a beta of 1.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.24 and a quick ratio of 2.05.

Hedge Funds Weigh In On Boise Cascade

A number of hedge funds have recently added to or reduced their stakes in BCC. USA Financial Formulas raised its stake in Boise Cascade by 5,050.0% in the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock valued at $27,000 after purchasing an additional 202 shares in the last quarter. Principal Securities Inc. acquired a new position in Boise Cascade in the fourth quarter valued at about $27,000. Global Retirement Partners LLC raised its stake in Boise Cascade by 1,147.1% in the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock valued at $28,000 after purchasing an additional 195 shares in the last quarter. Scarborough Advisors LLC acquired a new position in Boise Cascade in the fourth quarter valued at about $36,000. Finally, Larson Financial Group LLC acquired a new position in Boise Cascade in the second quarter valued at about $36,000. Institutional investors own 96.18% of the company’s stock.

Insider Transactions at Boise Cascade

In other news, SVP Jill Twedt sold 1,852 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $135.00, for a total transaction of $250,020.00. Following the transaction, the senior vice president now owns 37,437 shares in the company, valued at $5,053,995. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.98% of the stock is owned by corporate insiders.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, September 3rd. Boise Cascade’s dividend payout ratio (DPR) is presently 6.83%.

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.