Boise Cascade (NYSE:BCC) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Boise Cascade (NYSE:BCC) released its quarterly earnings data on Monday. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16, Briefing.com reports. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm posted $3.67 EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year.

Boise Cascade Price Performance

NYSE:BCC traded down $5.49 during midday trading on Wednesday, hitting $124.16. 510,408 shares of the stock were exchanged, compared to its average volume of 313,177. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 10.54 and a beta of 1.50. The company has a current ratio of 3.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.21. Boise Cascade has a one year low of $87.32 and a one year high of $154.67. The business has a 50-day moving average price of $127.64 and a two-hundred day moving average price of $134.62.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a $0.21 dividend. The ex-dividend date is Tuesday, September 3rd. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.68%. Boise Cascade’s dividend payout ratio (DPR) is 6.83%.

Insider Buying and Selling at Boise Cascade

In related news, EVP Jeffrey Robert Strom sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the transaction, the executive vice president now owns 43,353 shares of the company’s stock, valued at $5,852,655. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Boise Cascade news, SVP Jill Twedt sold 1,852 shares of Boise Cascade stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $135.00, for a total value of $250,020.00. Following the transaction, the senior vice president now owns 37,437 shares in the company, valued at $5,053,995. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $135.00, for a total value of $337,500.00. Following the completion of the transaction, the executive vice president now directly owns 43,353 shares in the company, valued at approximately $5,852,655. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BCC shares. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday. Truist Financial reissued a “buy” rating and set a $154.00 target price (down from $159.00) on shares of Boise Cascade in a research note on Wednesday. Finally, The Goldman Sachs Group decreased their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $124.75.

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.