Boise Cascade (NYSE:BCC) Reaches New 12-Month Low Following Weak Earnings

Boise Cascade (NYSE:BCC)’s share price hit a new 52-week low during trading on Friday following a dissappointing earnings announcement. The company traded as low as $110.56 and last traded at $108.87, with a volume of 166978 shares. The stock had previously closed at $116.48.

The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio is presently 8.22%.

Analyst Upgrades and Downgrades

BCC has been the subject of several recent research reports. Truist Financial cut their price target on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Loop Capital initiated coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price target for the company. Finally, The Goldman Sachs Group cut their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Boise Cascade presently has an average rating of “Hold” and an average target price of $139.60.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in Boise Cascade during the third quarter valued at approximately $28,000. R Squared Ltd acquired a new position in Boise Cascade during the fourth quarter valued at approximately $29,000. Quarry LP raised its position in Boise Cascade by 502.4% during the fourth quarter. Quarry LP now owns 253 shares of the construction company’s stock valued at $30,000 after purchasing an additional 211 shares in the last quarter. Larson Financial Group LLC raised its position in Boise Cascade by 23.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after purchasing an additional 73 shares in the last quarter. Finally, Principal Securities Inc. raised its position in Boise Cascade by 44.2% during the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after purchasing an additional 145 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Trading Down 7.1 %

The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 10.63 and a beta of 1.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. The firm’s 50-day simple moving average is $123.74 and its 200 day simple moving average is $132.38.

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.