Wall Street brokerages expect that Boise Cascade Co (NYSE:BCC) will report $1.36 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Boise Cascade’s earnings, with estimates ranging from $1.32 billion to $1.39 billion. Boise Cascade reported sales of $1.23 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.6%. The firm is expected to announce its next quarterly earnings report on Tuesday, October 30th.
According to Zacks, analysts expect that Boise Cascade will report full year sales of $5.14 billion for the current fiscal year, with estimates ranging from $5.07 billion to $5.22 billion. For the next fiscal year, analysts expect that the business will post sales of $5.32 billion per share, with estimates ranging from $5.22 billion to $5.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Boise Cascade.
Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, August 6th. The construction company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.19. Boise Cascade had a net margin of 2.64% and a return on equity of 18.66%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s revenue was up 23.6% compared to the same quarter last year.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Wednesday, August 29th. Bank of America cut their price target on shares of Boise Cascade from $49.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, August 7th. BMO Capital Markets restated a “hold” rating and set a $41.00 price target on shares of Boise Cascade in a report on Tuesday, July 17th. Finally, ValuEngine lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $43.60.
Shares of BCC stock traded down $0.70 during trading hours on Friday, reaching $42.80. 3,377 shares of the stock traded hands, compared to its average volume of 309,182. Boise Cascade has a 1-year low of $30.80 and a 1-year high of $49.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.25 and a quick ratio of 1.15. The firm has a market capitalization of $1.75 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.46 and a beta of 1.91.
The business also recently disclosed a special dividend, which will be paid on Monday, September 17th. Investors of record on Friday, August 31st will be given a dividend of $1.00 per share. This represents a yield of 0.63%. The ex-dividend date is Thursday, August 30th. Boise Cascade’s payout ratio is presently 14.66%.
In related news, CFO Wayne M. Rancourt sold 9,872 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $44.85, for a total transaction of $442,759.20. Following the transaction, the chief financial officer now directly owns 86,421 shares of the company’s stock, valued at $3,875,981.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kelly E. Hibbs sold 4,114 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $44.30, for a total transaction of $182,250.20. Following the transaction, the vice president now directly owns 34,101 shares in the company, valued at $1,510,674.30. The disclosure for this sale can be found here. Insiders have sold 35,472 shares of company stock worth $1,567,444 over the last ninety days. 1.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Boise Cascade by 10.3% during the second quarter. BlackRock Inc. now owns 5,648,484 shares of the construction company’s stock valued at $252,488,000 after purchasing an additional 528,529 shares in the last quarter. Macquarie Group Ltd. grew its position in Boise Cascade by 11.7% in the second quarter. Macquarie Group Ltd. now owns 1,310,363 shares of the construction company’s stock worth $58,574,000 after acquiring an additional 137,342 shares in the last quarter. Voya Investment Management LLC grew its position in Boise Cascade by 1.9% in the second quarter. Voya Investment Management LLC now owns 907,694 shares of the construction company’s stock worth $40,574,000 after acquiring an additional 16,671 shares in the last quarter. Millennium Management LLC grew its position in Boise Cascade by 9.2% in the second quarter. Millennium Management LLC now owns 871,939 shares of the construction company’s stock worth $38,976,000 after acquiring an additional 73,805 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in Boise Cascade by 52.6% in the second quarter. Acadian Asset Management LLC now owns 774,562 shares of the construction company’s stock worth $34,622,000 after acquiring an additional 266,849 shares in the last quarter. 95.81% of the stock is currently owned by hedge funds and other institutional investors.
Boise Cascade Company Profile
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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 lumber, studs, and particleboards.
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