Boise Cascade (NYSE:BCC) Posts Earnings Results, Misses Expectations By $0.30 EPS

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

Boise Cascade Stock Performance

Shares of NYSE:BCC traded up $0.07 on Friday, hitting $89.65. 57,198 shares of the company were exchanged, compared to its average volume of 368,187. The firm has a market capitalization of $3.41 billion, a P/E ratio of 9.38 and a beta of 1.43. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. Boise Cascade has a 1-year low of $84.53 and a 1-year high of $155.42. The stock's 50 day moving average price is $96.19 and its 200 day moving average price is $117.84.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.94%. Boise Cascade's payout ratio is 10.49%.

Insider Activity at Boise Cascade

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the sale, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following 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 disclosure for this sale can be found here. 1.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BCC. Truist Financial dropped their price objective on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. BMO Capital Markets cut their price target 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. Benchmark restated a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. The Goldman Sachs Group reduced their target price 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. Finally, Loop Capital cut 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 report on Monday, April 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Boise Cascade currently has a consensus rating of "Hold" and a consensus price target of $125.00.

About Boise Cascade

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.