Boise Cascade Co (NYSE:BCC) – Stock analysts at DA Davidson reduced their FY2018 earnings per share (EPS) estimates for Boise Cascade in a research report issued on Wednesday, November 7th. DA Davidson analyst S. Chercover now forecasts that the construction company will earn $2.84 per share for the year, down from their previous forecast of $3.45. DA Davidson has a “Neutral” rating and a $35.00 price objective on the stock. DA Davidson also issued estimates for Boise Cascade’s Q4 2018 earnings at ($0.15) EPS and FY2019 earnings at $2.04 EPS.
Several other analysts have also recently commented on BCC. ValuEngine cut shares of Boise Cascade from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. Zacks Investment Research cut shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Bank of America decreased their price objective on shares of Boise Cascade from $49.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, August 7th. BMO Capital Markets restated a “hold” rating and set a $41.00 price objective on shares of Boise Cascade in a research note on Tuesday, July 17th. Finally, Vertical Research upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.50.
Boise Cascade (NYSE:BCC) last released its earnings results on Tuesday, November 6th. The construction company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.01. Boise Cascade had a net margin of 2.23% and a return on equity of 17.97%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm earned $0.81 EPS. Boise Cascade’s revenue was up 9.1% compared to the same quarter last year.
Several institutional investors and hedge funds have recently bought and sold shares of BCC. Advisors Preferred LLC acquired a new position in shares of Boise Cascade in the 2nd quarter valued at $176,000. Parametrica Management Ltd acquired a new position in shares of Boise Cascade in the 2nd quarter valued at $203,000. CIBC Asset Management Inc acquired a new position in shares of Boise Cascade in the 2nd quarter valued at $208,000. Commonwealth Bank of Australia acquired a new position in shares of Boise Cascade in the 3rd quarter valued at $213,000. Finally, Sun Life Financial INC acquired a new position in shares of Boise Cascade in the 2nd quarter valued at $216,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.
In other Boise Cascade 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 completion of the sale, the chief financial officer now directly owns 86,421 shares in the company, valued at approximately $3,875,981.85. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.20%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, November 30th. Boise Cascade’s payout ratio is presently 14.66%.
About Boise Cascade
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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