Boise Cascade (BCC) to Issue Quarterly Dividend of $0.21 on March 19th

Boise Cascade (NYSE:BCC) announced a quarterly dividend on Friday, February 7th, RTT News reports. Investors of record on Monday, February 24th will be paid a dividend of 0.21 per share by the construction company on Wednesday, March 19th. This represents a $0.84 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Monday, February 24th.

Boise Cascade has raised its dividend by an average of 25.0% annually over the last three years. Boise Cascade has a dividend payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Boise Cascade to earn $10.15 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 8.3%.

Boise Cascade Stock Performance

Shares of BCC stock opened at $106.98 on Friday. Boise Cascade has a fifty-two week low of $103.57 and a fifty-two week high of $155.42. The stock’s 50-day moving average is $123.15 and its two-hundred day moving average is $132.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. The firm has a market cap of $4.11 billion, a P/E ratio of 10.47 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. Analysts predict that Boise Cascade will post 9.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BCC has been the topic of a number of recent research reports. Loop Capital started coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price target on the stock. The Goldman Sachs Group cut their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial decreased their price target on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $139.60.

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.