Boise Cascade (NYSE:BCC) Posts Quarterly Earnings Results, Beats Expectations By $0.31 EPS

Boise Cascade (NYSE:BCC - Get Free Report) released its earnings results on Monday. The construction company reported $2.61 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.31, Briefing.com reports. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The company had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter in the previous year, the company earned $2.43 EPS. Boise Cascade's revenue for the quarter was up 6.5% on a year-over-year basis.

Boise Cascade Trading Down 6.2 %

NYSE:BCC traded down $8.70 during mid-day trading on Tuesday, hitting $130.67. 698,889 shares of the stock traded hands, compared to its average volume of 301,591. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 10.78 and a beta of 1.64. Boise Cascade has a 52 week low of $70.66 and a 52 week high of $154.67. The firm's 50 day moving average is $140.37 and its two-hundred day moving average is $127.76. The company has a quick ratio of 2.26, a current ratio of 3.46 and a debt-to-equity ratio of 0.22.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.20 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.61%. Boise Cascade's dividend payout ratio (DPR) is presently 6.60%.

Insider Activity at Boise Cascade

In related news, EVP Dean Michael Brown sold 11,117 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the transaction, the executive vice president now directly owns 40,237 shares in the company, valued at approximately $5,596,564.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.05% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BCC. Truist Financial lifted their target price on shares of Boise Cascade from $156.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. StockNews.com cut shares of Boise Cascade from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Boise Cascade from $114.00 to $129.00 and gave the stock a "neutral" rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock 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.