Boise Cascade (NYSE:BCC) Releases Quarterly Earnings Results, Beats Estimates By $0.31 EPS

Boise Cascade (NYSE:BCC) issued its quarterly earnings results on Monday. The construction company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.31, Briefing.com reports. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business earned $2.43 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis.

Boise Cascade Price Performance

BCC opened at $139.41 on Tuesday. The stock has a 50-day moving average price of $140.37 and a 200-day moving average price of $127.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26. The firm has a market cap of $5.51 billion, a PE ratio of 11.50 and a beta of 1.64. Boise Cascade has a 1 year low of $70.66 and a 1 year high of $154.67.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Monday, June 3rd. Boise Cascade’s dividend payout ratio is presently 6.60%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BCC. The Goldman Sachs Group increased their price objective on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Truist Financial boosted their target price on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and an average target price of $125.00.

Insider Transactions at Boise Cascade

In other news, EVP Dean Michael Brown sold 11,117 shares of Boise Cascade stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the completion of the transaction, the executive vice president now owns 40,237 shares of the company’s stock, valued at approximately $5,596,564.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.05% of the stock is owned by insiders.

About Boise Cascade

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.