Q1 2024 EPS Estimates for Boise Cascade Increased by DA Davidson (NYSE:BCC)

Boise Cascade (NYSE:BCC - Free Report) - Research analysts at DA Davidson boosted their Q1 2024 earnings per share estimates for shares of Boise Cascade in a research report issued to clients and investors on Thursday, April 25th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings per share of $2.30 for the quarter, up from their prior estimate of $2.28. The consensus estimate for Boise Cascade's current full-year earnings is $11.50 per share.

Several other equities analysts have also commented on the company. StockNews.com lowered Boise Cascade from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. Truist Financial upped their target price on Boise Cascade from $156.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group upped their target price on Boise Cascade from $114.00 to $129.00 and gave the company a "neutral" rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $125.00.

Boise Cascade Price Performance

Shares of BCC traded up $0.96 during mid-day trading on Friday, hitting $139.42. The company's stock had a trading volume of 217,996 shares, compared to its average volume of 296,749. The firm has a market capitalization of $5.52 billion, a P/E ratio of 11.42 and a beta of 1.60. The firm has a 50-day simple moving average of $139.89 and a 200 day simple moving average of $125.35. Boise Cascade has a 1-year low of $64.56 and a 1-year high of $154.67. The company has a current ratio of 3.46, a quick ratio of 2.26 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The construction company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.01). The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.95 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. USA Financial Formulas raised its stake in Boise Cascade by 5,050.0% during the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company's stock valued at $27,000 after buying an additional 202 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Boise Cascade during the 4th quarter worth approximately $27,000. Global Retirement Partners LLC raised its position in shares of Boise Cascade by 1,147.1% during the 4th quarter. Global Retirement Partners LLC now owns 212 shares of the construction company's stock worth $28,000 after purchasing an additional 195 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of Boise Cascade during the 4th quarter worth approximately $36,000. Finally, Hexagon Capital Partners LLC raised its position in shares of Boise Cascade by 76.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 433 shares of the construction company's stock worth $45,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 96.18% of the company's stock.

Insider Transactions at Boise Cascade

In other news, EVP Dean Michael Brown sold 11,117 shares of the company's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the completion of the sale, the executive vice president now owns 40,237 shares of the company's stock, valued at $5,596,564.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.98% of the company's stock.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Thursday, February 22nd. Boise Cascade's dividend payout ratio (DPR) is presently 6.60%.

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.