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

Boise Cascade (NYSE:BCC) hit a new 52-week low on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $110.56 and last traded at $108.87, with a volume of 166978 shares traded. The stock had previously closed at $116.48.

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

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be given a $0.21 dividend. The ex-dividend date is Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.78%. Boise Cascade’s dividend payout ratio is currently 8.22%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial reduced their target price on Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group reduced their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Loop Capital began coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.60.

Institutional Trading of Boise Cascade

Hedge funds and other institutional investors have recently modified their holdings of the stock. Westwood Holdings Group Inc. grew its holdings in Boise Cascade by 3.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock worth $141,755,000 after purchasing an additional 45,010 shares during the period. American Century Companies Inc. grew its holdings in Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after purchasing an additional 121,790 shares during the period. First Trust Advisors LP grew its holdings in Boise Cascade by 37.9% during the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after purchasing an additional 195,773 shares during the period. Northern Trust Corp grew its holdings in Boise Cascade by 17.8% during the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock worth $57,429,000 after purchasing an additional 73,061 shares during the period. Finally, Norges Bank bought a new position in Boise Cascade during the fourth quarter worth about $55,680,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Price Performance

The firm has a market cap of $4.15 billion, a P/E ratio of 10.63 and a beta of 1.57. The business has a fifty day moving average of $123.74 and a 200 day moving average of $132.38. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22.

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.