Boise Cascade (NYSE:BCC) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Boise Cascade (NYSE:BCC) announced its quarterly earnings results on Thursday. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01), Zacks reports. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%.

Boise Cascade Price Performance

Shares of NYSE:BCC traded down $1.99 during midday trading on Thursday, reaching $116.31. 389,815 shares of the company were exchanged, compared to its average volume of 280,425. Boise Cascade has a one year low of $113.38 and a one year high of $155.42. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average is $124.21 and its two-hundred day moving average is $132.50. The stock has a market cap of $4.47 billion, a PE ratio of 11.38 and a beta of 1.57.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.72%. Boise Cascade’s dividend payout ratio is 8.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Truist Financial decreased their price objective on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a report on Monday, January 6th. 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 assumed coverage on shares of Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $139.60.

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.