Boise Cascade Co (BCC) Expected to Post Quarterly Sales of $1.10 Billion

Wall Street analysts forecast that Boise Cascade Co (NYSE:BCC) will report $1.10 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Boise Cascade’s earnings, with the highest sales estimate coming in at $1.12 billion and the lowest estimate coming in at $1.08 billion. Boise Cascade reported sales of $1.09 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 0.9%. The business is expected to issue its next quarterly earnings results on Monday, February 25th.

On average, analysts expect that Boise Cascade will report full year sales of $5.02 billion for the current fiscal year, with estimates ranging from $5.00 billion to $5.05 billion. For the next year, analysts forecast that the business will post sales of $4.90 billion, with estimates ranging from $4.86 billion to $4.93 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Boise Cascade.

Boise Cascade (NYSE:BCC) last released its earnings results on Tuesday, November 6th. The construction company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Boise Cascade had a net margin of 2.23% and a return on equity of 17.97%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 earnings per share.

BCC has been the subject of a number of research reports. Vertical Research raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Zacks Investment Research raised shares of Boise Cascade from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Wednesday, August 29th. ValuEngine cut shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, DA Davidson cut their target price on shares of Boise Cascade to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, November 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Boise Cascade currently has a consensus rating of “Hold” and an average target price of $43.50.

Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its stake in Boise Cascade by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 93,484 shares of the construction company’s stock valued at $4,179,000 after acquiring an additional 1,265 shares in the last quarter. Victory Capital Management Inc. grew its stake in Boise Cascade by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 9,472 shares of the construction company’s stock valued at $423,000 after acquiring an additional 1,301 shares in the last quarter. United Services Automobile Association grew its stake in Boise Cascade by 18.7% during the 2nd quarter. United Services Automobile Association now owns 8,557 shares of the construction company’s stock valued at $383,000 after acquiring an additional 1,346 shares in the last quarter. Summit Global Investments grew its stake in Boise Cascade by 14.2% during the 3rd quarter. Summit Global Investments now owns 16,100 shares of the construction company’s stock valued at $592,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Globeflex Capital L P grew its stake in Boise Cascade by 3.2% during the 3rd quarter. Globeflex Capital L P now owns 64,149 shares of the construction company’s stock valued at $2,361,000 after acquiring an additional 2,018 shares in the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

Shares of BCC stock traded down $0.72 on Wednesday, reaching $25.07. 313,317 shares of the company were exchanged, compared to its average volume of 400,109. The stock has a market capitalization of $1.00 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.98 and a beta of 2.00. The company has a quick ratio of 1.17, a current ratio of 2.36 and a debt-to-equity ratio of 0.59. Boise Cascade has a 1 year low of $24.73 and a 1 year high of $49.30.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, November 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.07. Boise Cascade’s payout ratio is currently 18.85%.

About Boise Cascade

Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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 lumber, studs, and particleboards.

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