Boise Cascade Plans Quarterly Dividend of $0.21 (NYSE:BCC)

Boise Cascade (NYSE:BCC) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 0.21 per share by the construction company on Wednesday, December 18th. This represents a $0.84 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Monday, December 2nd.

Boise Cascade has increased its dividend payment by an average of 20.5% annually over the last three years. Boise Cascade has a dividend payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Boise Cascade to earn $10.50 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 8.0%.

Boise Cascade Trading Up 2.7 %

Shares of NYSE:BCC traded up $3.62 during midday trading on Friday, reaching $136.65. The company’s stock had a trading volume of 23,984 shares, compared to its average volume of 306,982. Boise Cascade has a fifty-two week low of $99.11 and a fifty-two week high of $154.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The firm has a 50 day moving average price of $136.11 and a two-hundred day moving average price of $132.66. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 11.61 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. Boise Cascade’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.67 EPS. As a group, analysts forecast that Boise Cascade will post 9.69 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Truist Financial raised their target price on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Loop Capital started coverage on Boise Cascade in a report on Friday. They set a “buy” rating and a $155.00 price target for the company. The Goldman Sachs Group dropped their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $139.60.

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.