Boise Cascade Forecasted to Earn Q3 2024 Earnings of $2.28 Per Share (NYSE:BCC)

Boise Cascade (NYSE:BCC) – Equities research analysts at DA Davidson issued their Q3 2024 EPS estimates for shares of Boise Cascade in a research report issued to clients and investors on Wednesday, August 7th. DA Davidson analyst K. Yinger expects that the construction company will post earnings of $2.28 per share for the quarter. The consensus estimate for Boise Cascade’s current full-year earnings is $10.41 per share.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.67 EPS.

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

Boise Cascade Price Performance

Shares of BCC traded up $0.25 during mid-day trading on Thursday, reaching $127.11. 263,314 shares of the stock traded hands, compared to its average volume of 313,235. The firm has a fifty day moving average price of $127.10 and a 200 day moving average price of $134.42. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 10.33 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 1 year low of $87.32 and a 1 year high of $154.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCC. Global Retirement Partners LLC raised its position in Boise Cascade by 1,147.1% in the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after acquiring an additional 195 shares during the period. New York State Teachers Retirement System raised its position in Boise Cascade by 0.4% in the fourth quarter. New York State Teachers Retirement System now owns 30,844 shares of the construction company’s stock worth $3,990,000 after acquiring an additional 108 shares during the period. DekaBank Deutsche Girozentrale raised its position in Boise Cascade by 54.2% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock worth $7,596,000 after acquiring an additional 20,712 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Boise Cascade by 50.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,624 shares of the construction company’s stock worth $3,832,000 after acquiring an additional 9,928 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Boise Cascade by 81.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,135 shares of the construction company’s stock worth $1,052,000 after acquiring an additional 3,660 shares during the period. Institutional investors own 96.18% of the company’s stock.

Insider Activity

In related news, SVP Jill Twedt sold 1,852 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $135.00, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.98% of the company’s stock.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.21 per share. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.66%. Boise Cascade’s dividend payout ratio is presently 6.83%.

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.