Boise Cascade (NYSE:BCC) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Boise Cascade (NYSE:BCC) posted its quarterly earnings results on Monday. The construction company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04), Briefing.com reports. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.58 earnings per share.

Boise Cascade Stock Up 3.1 %

Shares of NYSE:BCC opened at $138.43 on Wednesday. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $5.47 billion, a P/E ratio of 12.07 and a beta of 1.53. Boise Cascade has a 52-week low of $101.82 and a 52-week high of $154.67. The stock’s fifty day simple moving average is $136.14 and its 200-day simple moving average is $132.51.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.61%. Boise Cascade’s dividend payout ratio (DPR) is 7.32%.

Analyst Upgrades and Downgrades

BCC has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Truist Financial increased their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. BMO Capital Markets boosted their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Bank of America raised their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Finally, Loop Capital assumed coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $139.60.

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.