Boise Cascade (NYSE:BCC) Posts Earnings Results, Beats Expectations By $0.31 EPS

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

Boise Cascade Price Performance

Shares of NYSE:BCC traded down $1.74 during midday trading on Tuesday, hitting $137.63. The stock had a trading volume of 150,572 shares, compared to its average volume of 295,283. The company’s 50-day moving average price is $140.37 and its 200-day moving average price is $127.76. Boise Cascade has a fifty-two week low of $70.66 and a fifty-two week high of $154.67. The company has a quick ratio of 2.26, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $5.44 billion, a P/E ratio of 11.19 and a beta of 1.64.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.58%. The ex-dividend date is Monday, June 3rd. Boise Cascade’s dividend payout ratio is currently 6.60%.

Insider Buying and Selling

In other news, EVP Dean Michael Brown sold 11,117 shares of Boise Cascade stock in a transaction on 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 transaction, the executive vice president now owns 40,237 shares in the company, valued at approximately $5,596,564.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.05% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BCC shares. Truist Financial boosted their price target 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 cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, The Goldman Sachs Group boosted their price target on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.