Boise Cascade (NYSE:BCC) Releases Earnings Results, Misses Expectations By $0.04 EPS

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

Boise Cascade Price Performance

Boise Cascade stock traded down $3.90 during mid-day trading on Tuesday, hitting $130.36. 104,957 shares of the company traded hands, compared to its average volume of 306,914. The stock has a fifty day moving average price of $136.05 and a 200-day moving average price of $132.47. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 11.71 and a beta of 1.53. Boise Cascade has a one year low of $101.82 and a one year high of $154.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28.

Boise Cascade Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is 7.32%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BCC. Truist Financial boosted their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group dropped 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 note on Wednesday, July 10th. Loop Capital initiated coverage on shares of Boise Cascade in a research note on Friday. They issued a “buy” rating and a $155.00 price objective for the company. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Finally, BMO Capital Markets lifted their price target on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, 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.