Boise Cascade (NYSE:BCC) Announces Earnings Results

Boise Cascade (NYSE:BCC) issued its earnings results on Monday. The construction company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04), Briefing.com reports. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the firm earned $3.58 EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year.

Boise Cascade Stock Up 2.4 %

Shares of BCC traded up $3.27 during trading hours on Wednesday, hitting $141.76. 438,947 shares of the company were exchanged, compared to its average volume of 310,006. Boise Cascade has a 52 week low of $101.82 and a 52 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 company has a market cap of $5.60 billion, a PE ratio of 12.07 and a beta of 1.53. The firm’s 50 day moving average is $136.14 and its 200-day moving average is $132.51.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.59%. Boise Cascade’s dividend payout ratio (DPR) is presently 7.32%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BCC shares. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Truist Financial boosted their target price on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Loop Capital began coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 target price on the stock. Bank of America upped their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group decreased their price target 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $139.60.

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.