Boise Cascade (NYSE:BCC) Issues Quarterly Earnings Results

Boise Cascade (NYSE:BCC) issued its quarterly 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. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.56 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.43 earnings per share.

Boise Cascade Stock Up 2.0 %

BCC opened at $133.23 on Thursday. The company has a fifty day moving average of $140.31 and a two-hundred day moving average of $128.08. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 10.83 and a beta of 1.64. Boise Cascade has a fifty-two week low of $71.50 and a fifty-two week high of $154.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.26 and a current ratio of 3.46.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Monday, June 3rd. Boise Cascade’s dividend payout ratio (DPR) is presently 6.50%.

Insider Buying and Selling at Boise Cascade

In related news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BCC. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Finally, 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 note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $125.00.

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.