Boise Cascade (NYSE:BCC) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Key Points

• Boise Cascade reported quarterly EPS of $1.04, missing analysts’ $1.12 estimate by $0.08, while revenue of $1.80 billion exceeded the $1.76 billion consensus.
• Shares fell 4.5% to $75.28 following the results. Analysts maintain a consensus “Hold” rating with an average price target of $92.00.
• The company declared a quarterly dividend of $0.23 per share, equivalent to $0.92 annually and a 1.2% yield.

Boise Cascade (NYSE:BCC - Get Free Report) posted its earnings results on Monday. The construction company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08), FiscalAI reports. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.76 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.

Boise Cascade Stock Down 4.5%

Boise Cascade stock traded down $3.54 during trading hours on Monday, hitting $75.28. 963,170 shares of the stock traded hands, compared to its average volume of 400,332. Boise Cascade has a one year low of $65.00 and a one year high of $91.97. The firm's 50-day moving average price is $76.45 and its two-hundred day moving average price is $77.28. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.63 billion, a PE ratio of 25.52, a PEG ratio of 1.03 and a beta of 1.08.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Tuesday, December 1st will be given 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 payout ratio is presently 31.19%.

Analyst Ratings Changes

A number of analysts have commented on BCC shares. DA Davidson boosted their price target on shares of Boise Cascade from $92.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Weiss Ratings raised Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. Zacks Research cut shares of Boise Cascade from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. Loop Capital downgraded shares of Boise Cascade from a "buy" rating to a "hold" rating and set a $85.00 price objective on the stock. in a report on Monday, October 26th. Finally, The Goldman Sachs Group raised their price target on Boise Cascade from $81.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Boise Cascade currently has an average rating of "Hold" and a consensus price target of $92.00.

Insider Activity

In related news, SVP Jill Twedt sold 1,250 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total transaction of $99,250.00. Following the completion of the transaction, the senior vice president owned 25,295 shares of the company's stock, valued at $2,008,423. This trade represents a 4.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kristopher Matula sold 1,930 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the transaction, the director owned 13,982 shares in the company, valued at approximately $1,182,597.56. The trade was a 12.13% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.42% of the stock is owned by company insiders.

About Boise Cascade

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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