Boise Cascade Co (BCC) Expected to Post Quarterly Sales of $1.35 Billion

Equities research analysts expect Boise Cascade Co (NYSE:BCC) to announce sales of $1.35 billion for the current quarter, Zacks reports. Two analysts have provided estimates for Boise Cascade’s earnings, with the lowest sales estimate coming in at $1.31 billion and the highest estimate coming in at $1.39 billion. Boise Cascade reported sales of $1.23 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.8%. The firm is scheduled to announce its next earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that Boise Cascade will report full year sales of $5.12 billion for the current fiscal year, with estimates ranging from $5.03 billion to $5.22 billion. For the next financial year, analysts anticipate that the business will report sales of $5.21 billion, with estimates ranging from $5.00 billion to $5.42 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Boise Cascade.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, August 6th. The construction company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.10 by $0.19. Boise Cascade had a net margin of 2.64% and a return on equity of 18.66%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company earned $0.57 EPS. Boise Cascade’s revenue was up 23.6% on a year-over-year basis.

BCC has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Wednesday, August 29th. Bank of America reduced their price objective on shares of Boise Cascade from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 7th. ValuEngine lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Finally, BMO Capital Markets reissued a “hold” rating and set a $41.00 price objective on shares of Boise Cascade in a research note on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Boise Cascade currently has a consensus rating of “Hold” and a consensus target price of $45.50.

In related news, CFO Wayne M. Rancourt sold 9,872 shares of Boise Cascade stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $44.85, for a total transaction of $442,759.20. Following the transaction, the chief financial officer now owns 86,421 shares of the company’s stock, valued at approximately $3,875,981.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kelly E. Hibbs sold 4,114 shares of Boise Cascade stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $44.30, for a total transaction of $182,250.20. Following the transaction, the vice president now directly owns 34,101 shares in the company, valued at approximately $1,510,674.30. The disclosure for this sale can be found here. Insiders have sold a total of 35,472 shares of company stock worth $1,567,444 in the last three months. 1.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Boise Cascade by 10.3% in the second quarter. BlackRock Inc. now owns 5,648,484 shares of the construction company’s stock valued at $252,488,000 after buying an additional 528,529 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Boise Cascade by 11.7% in the second quarter. Macquarie Group Ltd. now owns 1,310,363 shares of the construction company’s stock valued at $58,574,000 after buying an additional 137,342 shares in the last quarter. Northern Trust Corp lifted its stake in Boise Cascade by 20.2% in the second quarter. Northern Trust Corp now owns 980,253 shares of the construction company’s stock valued at $43,818,000 after buying an additional 164,841 shares in the last quarter. Voya Investment Management LLC lifted its stake in Boise Cascade by 1.9% in the second quarter. Voya Investment Management LLC now owns 907,694 shares of the construction company’s stock valued at $40,574,000 after buying an additional 16,671 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Boise Cascade by 9.2% in the second quarter. Millennium Management LLC now owns 871,939 shares of the construction company’s stock valued at $38,976,000 after buying an additional 73,805 shares in the last quarter. 95.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:BCC traded up $0.46 during trading on Monday, hitting $34.94. 484,800 shares of the company’s stock were exchanged, compared to its average volume of 443,782. Boise Cascade has a 1-year low of $33.62 and a 1-year high of $49.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.25 and a quick ratio of 1.15. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 1.19 and a beta of 1.88.

The company also recently disclosed a special dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 31st were paid a dividend of $1.00 per share. This represents a yield of 0.63%. The ex-dividend date was Thursday, August 30th. Boise Cascade’s payout ratio is 14.66%.

Boise Cascade Company Profile

Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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 lumber, studs, and particleboards.

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Earnings History and Estimates for Boise Cascade (NYSE:BCC)

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