Boise Cascade (NYSE:BCC) Announces Earnings Results

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. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the firm posted $3.58 EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year.

Boise Cascade Stock Down 2.9 %

Shares of NYSE BCC traded down $3.90 during midday trading on Tuesday, hitting $130.36. The stock had a trading volume of 104,957 shares, compared to its average volume of 306,914. The business’s 50 day moving average is $136.05 and its 200-day moving average is $132.47. Boise Cascade has a 52 week low of $101.82 and a 52 week high of $154.67. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.15 billion, a P/E ratio of 11.71 and a beta of 1.53.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.64%. Boise Cascade’s dividend payout ratio is currently 7.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BCC shares. Bank of America raised their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. The Goldman Sachs Group lowered their price target 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. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Loop Capital began coverage on Boise Cascade in a research note on Friday. They issued a “buy” rating and a $155.00 price target for the company. Finally, BMO Capital Markets boosted 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 report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Boise Cascade currently has an average 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.