Boise Cascade (NYSE:BCC) Announces Earnings Results

Boise Cascade (NYSE:BCC) issued its earnings results on Monday. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.16, Briefing.com reports. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company earned $3.67 earnings per share. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year.

Boise Cascade Stock Performance

Shares of BCC stock traded down $5.10 on Wednesday, reaching $124.55. The stock had a trading volume of 572,529 shares, compared to its average volume of 313,588. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.05 and a current ratio of 3.24. Boise Cascade has a 1 year low of $87.32 and a 1 year high of $154.67. The stock has a market cap of $4.92 billion, a P/E ratio of 10.13 and a beta of 1.50. The company has a 50 day simple moving average of $127.64 and a 200 day simple moving average of $134.62.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.67%. Boise Cascade’s payout ratio is currently 6.83%.

Insider Activity at Boise Cascade

In other Boise Cascade news, EVP Jeffrey Robert Strom sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the sale, the executive vice president now directly owns 43,353 shares in the company, valued at approximately $5,852,655. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Boise Cascade news, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the sale, the executive vice president now directly owns 43,353 shares of the company’s stock, valued at $5,852,655. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jill Twedt sold 1,852 shares of Boise Cascade stock in a transaction on Monday, May 13th. The stock was 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 approximately $5,053,995. The disclosure for this sale can be found here. 0.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BCC has been the subject of a number of recent analyst reports. Truist Financial restated a “buy” rating and issued a $154.00 price objective (down from $159.00) on shares of Boise Cascade in a report on Wednesday. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, The Goldman Sachs Group dropped their price objective on 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Boise Cascade has an average rating of “Hold” and a consensus target price of $124.75.

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.