Boise Cascade (NYSE:BCC) Releases Earnings Results, Misses Estimates By $0.30 EPS

Boise Cascade (NYSE:BCC - Get Free Report) released its earnings results on Monday. The construction company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30), Zacks reports. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company posted $2.61 earnings per share. The business's revenue was down 6.6% compared to the same quarter last year.

Boise Cascade Price Performance

Shares of NYSE BCC traded down $0.99 during mid-day trading on Friday, hitting $88.59. 278,111 shares of the stock traded hands, compared to its average volume of 329,144. The company has a market cap of $3.37 billion, a PE ratio of 9.27 and a beta of 1.43. Boise Cascade has a twelve month low of $84.53 and a twelve month high of $155.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The firm has a 50 day simple moving average of $95.99 and a two-hundred day simple moving average of $117.41.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.95%. Boise Cascade's dividend payout ratio (DPR) is presently 10.49%.

Insider Buying and Selling at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the transaction, the director now owns 13,099 shares of the company's stock, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, the chief operating officer now owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.11% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on BCC. DA Davidson cut their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research report on Monday, February 24th. The Goldman Sachs Group cut their price target on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Loop Capital decreased their price objective on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Benchmark restated a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Finally, BMO Capital Markets reduced their target price on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade has an average rating of "Hold" and a consensus price target of $125.00.

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.