Boise Cascade (NYSE:BCC) to Issue Quarterly Dividend of $0.21

Boise Cascade (NYSE:BCC) announced a quarterly dividend on Friday, February 7th,RTT News reports. Investors of record on Monday, February 24th will be paid a dividend of 0.21 per share by the construction company on Wednesday, March 19th. This represents a $0.84 dividend on an annualized basis and a yield of 0.68%.

Boise Cascade has raised its dividend payment by an average of 25.0% per year over the last three years. Boise Cascade has a dividend payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Boise Cascade to earn $10.15 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 8.3%.

Boise Cascade Stock Performance

NYSE:BCC traded down $1.94 during mid-day trading on Friday, hitting $123.17. 190,334 shares of the company’s stock traded hands, compared to its average volume of 274,237. The firm has a 50 day moving average of $128.53 and a two-hundred day moving average of $133.43. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 12.05 and a beta of 1.57. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12 month low of $113.38 and a 12 month high of $155.42.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the company earned $3.58 earnings per share. On average, equities analysts forecast that Boise Cascade will post 9.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on BCC. The Goldman Sachs Group reduced their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. BMO Capital Markets lifted their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Loop Capital began coverage on Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 target price for the company. Finally, Truist Financial cut their price objective on Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and a consensus price target of $139.60.

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.