Boise Cascade Declares Quarterly Dividend of $0.21 (NYSE:BCC)

Boise Cascade (NYSE:BCC) announced a quarterly dividend on Friday, February 7th,RTT News reports. Shareholders of record on Monday, February 24th will be paid a dividend of 0.21 per share by the construction company on Wednesday, March 19th. This represents a $0.84 dividend on an annualized basis and a yield of 0.68%.

Boise Cascade has increased its dividend payment by an average of 25.0% per year over the last three years. Boise Cascade has a payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Boise Cascade to earn $10.15 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 8.3%.

Boise Cascade Trading Down 1.5 %

Shares of Boise Cascade stock traded down $1.94 during midday trading on Friday, reaching $123.17. 190,334 shares of the company’s stock traded hands, compared to its average volume of 274,237. The stock has a 50 day moving average of $128.53 and a 200-day moving average of $133.43. Boise Cascade has a 12 month low of $113.38 and a 12 month high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The company has a market cap of $4.73 billion, a PE ratio of 12.05 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the firm posted $3.58 EPS. The business’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities analysts expect that Boise Cascade will post 9.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. 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 report on Tuesday, October 22nd. The Goldman Sachs Group dropped their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial reduced their price target on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Loop Capital initiated coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.