Boise Cascade (NYSE:BCC) Posts Earnings Results, Misses Estimates By $0.04 EPS

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

Boise Cascade Trading Up 0.5 %

Shares of BCC traded up $0.77 during trading hours on Thursday, reaching $142.53. 56,084 shares of the company traded hands, compared to its average volume of 308,830. The stock’s fifty day moving average price is $136.25 and its 200 day moving average price is $132.57. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 12.36 and a beta of 1.53. Boise Cascade has a 12-month low of $102.13 and a 12-month high of $154.67.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.59%. Boise Cascade’s payout ratio is 7.32%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BCC. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday. Loop Capital started coverage on shares of Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. The Goldman Sachs Group reduced their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. BMO Capital Markets lifted their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial boosted their price objective on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock 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.