Boise Cascade (NYSE:BCC) Releases Quarterly Earnings Results, Beats Estimates By $0.31 EPS

Boise Cascade (NYSE:BCC) issued its quarterly earnings results on Monday. The construction company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.31, Briefing.com reports. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company posted $2.43 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year.

Boise Cascade Trading Down 6.2 %

Shares of BCC stock opened at $130.67 on Wednesday. The firm has a market capitalization of $5.17 billion, a P/E ratio of 10.78 and a beta of 1.64. Boise Cascade has a twelve month low of $70.66 and a twelve month 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 stock’s fifty day simple moving average is $140.32 and its 200 day simple moving average is $128.04.

Boise Cascade Announces Dividend

The company 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 0.61%. Boise Cascade’s dividend payout ratio is currently 6.60%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lifted 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. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Truist Financial lifted their price target on Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Boise Cascade presently has an average rating of “Hold” and a consensus price target of $125.00.

Insider Buying and Selling

In related news, EVP Dean Michael Brown sold 11,117 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. 1.05% of the stock is currently owned by corporate insiders.

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.