Boise Cascade (NYSE:BCC) Announces Quarterly Earnings Results

Boise Cascade (NYSE:BCC) announced its earnings results on Monday. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04), Briefing.com reports. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the firm posted $3.58 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year.

Boise Cascade Stock Performance

Shares of Boise Cascade stock opened at $138.43 on Wednesday. Boise Cascade has a one year low of $101.82 and a one year high of $154.67. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 12.07 and a beta of 1.53. The business has a 50-day simple moving average of $136.14 and a 200 day simple moving average of $132.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Monday, December 2nd. Boise Cascade’s payout ratio is 7.32%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BCC. The Goldman Sachs Group lowered their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Truist Financial lifted their price objective on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets lifted their price objective on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Bank of America lifted their price objective on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Finally, StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Boise Cascade has a consensus rating of “Hold” and a consensus price target of $139.60.

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.