Boise Cascade (NYSE:BCC) Issues Quarterly Earnings Results

Boise Cascade (NYSE:BCC) released its earnings results on Monday. The construction company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.31, Briefing.com reports. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.43 earnings per share.

Boise Cascade Price Performance

Shares of Boise Cascade stock traded down $0.79 on Tuesday, hitting $138.58. 135,730 shares of the company traded hands, compared to its average volume of 294,879. Boise Cascade has a 12-month low of $70.66 and a 12-month high of $154.67. The firm’s 50-day simple moving average is $140.37 and its 200 day simple moving average is $127.76. The company has a market cap of $5.48 billion, a P/E ratio of 11.19 and a beta of 1.64. The company has a current ratio of 3.46, a quick ratio of 2.26 and a debt-to-equity ratio of 0.22.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, June 3rd. Boise Cascade’s dividend payout ratio (DPR) is 6.60%.

Insider Activity at Boise Cascade

In other news, EVP Dean Michael Brown sold 11,117 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the completion of the transaction, the executive vice president now directly owns 40,237 shares in the company, valued at approximately $5,596,564.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.05% of the stock is owned by insiders.

Analysts Set New Price Targets

BCC has been the subject of a number of recent research reports. Truist Financial raised their target price on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and a consensus price target of $125.00.

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.