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

Boise Cascade (NYSE:BCC) announced a quarterly dividend on Friday, February 7th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Monday, February 24th.

Boise Cascade has increased its dividend 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. 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 Trading Down 8.2 %

Shares of BCC stock opened at $106.98 on Friday. 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 1 year low of $103.57 and a 1 year high of $155.42. The firm’s fifty day simple moving average is $123.15 and its 200 day simple moving average is $132.27. The firm has a market capitalization of $4.11 billion, a P/E ratio of 10.47 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. As a group, sell-side analysts predict that Boise Cascade will post 9.6 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on BCC shares. Truist Financial cut their price target on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a report on Monday, January 6th. Loop Capital initiated coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 target price for the company. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group lowered their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and a consensus target price 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.