Boise Cascade (NYSE:BCC) Releases Earnings Results, Beats Expectations By $0.16 EPS

Boise Cascade (NYSE:BCC) released its quarterly earnings results on Monday. The construction company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16, Briefing.com reports. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the business earned $3.67 EPS.

Boise Cascade Stock Performance

Shares of BCC stock traded down $5.10 during mid-day trading on Wednesday, reaching $124.55. The stock had a trading volume of 572,529 shares, compared to its average volume of 313,588. Boise Cascade has a 1-year low of $87.32 and a 1-year high of $154.67. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 10.13 and a beta of 1.50. The company has a current ratio of 3.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average is $127.64 and its 200-day moving average is $134.62.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s payout ratio is presently 6.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BCC shares. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Truist Financial reaffirmed a “buy” rating and set a $154.00 target price (down from $159.00) on shares of Boise Cascade in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and a consensus price target of $124.75.

Insider Transactions at Boise Cascade

In other news, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $135.00, for a total value of $337,500.00. Following the sale, the executive vice president now directly owns 43,353 shares of the company’s stock, valued at approximately $5,852,655. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Jill Twedt sold 1,852 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $135.00, for a total transaction of $250,020.00. Following the sale, the senior vice president now directly owns 37,437 shares of the company’s stock, valued at $5,053,995. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total value of $337,500.00. Following the completion of the sale, the executive vice president now owns 43,353 shares in the company, valued at approximately $5,852,655. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

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.