Boise Cascade (NYSE:BCC – Get Free Report) released its quarterly earnings data on Monday. The construction company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08), FiscalAI reports. Boise Cascade had a return on equity of 6.20% and a net margin of 1.83%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business earned $0.58 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year.
Boise Cascade Stock Performance
Shares of BCC stock opened at $77.68 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. The company has a market capitalization of $2.71 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The company’s 50 day moving average price is $76.16 and its two-hundred day moving average price is $77.19. Boise Cascade has a 52 week low of $65.00 and a 52 week high of $91.97.
Boise Cascade Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Boise Cascade’s dividend payout ratio is presently 31.19%.
Insiders Place Their Bets
In other news, SVP Jill Twedt sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.40, for a total value of $99,250.00. Following the completion of the transaction, the senior vice president owned 25,295 shares in the company, valued at $2,008,423. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.42% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on BCC shares. Zacks Research lowered shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Loop Capital lowered shares of Boise Cascade from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a report on Monday, October 26th. Bank of America decreased their price target on shares of Boise Cascade from $89.00 to $80.00 and set an “underperform” rating for the company in a report on Wednesday, October 14th. Wall Street Zen cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, DA Davidson set a $99.00 price objective on Boise Cascade in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and an average price target of $92.00.
Check Out Our Latest Report on BCC
Boise Cascade Company Profile
Boise Cascade Company is a U.S.-based manufacturer of engineered wood products and a wholesale distributor of building materials. Headquartered in Boise, Idaho, the company serves the residential construction, repair and remodeling, and industrial sectors primarily across the United States.
Through its Wood Products segment, Boise Cascade manufactures laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other engineered wood products used in floors, roofs, walls, and structural applications.
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