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

Boise Cascade (NYSE:BCC) – Equities research analysts at DA Davidson raised their Q1 2024 earnings estimates for shares of Boise Cascade in a report issued on Thursday, April 25th. DA Davidson analyst K. Yinger now anticipates 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.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.95 EPS.

A number of other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Truist Financial increased their target price on shares of Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $125.00.

Boise Cascade Stock Performance

NYSE:BCC opened at $139.42 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.26 and a current ratio of 3.46. The stock has a market capitalization of $5.52 billion, a P/E ratio of 11.50 and a beta of 1.60. The company has a 50 day moving average price of $139.88 and a 200 day moving average price of $125.64. Boise Cascade has a fifty-two week low of $64.56 and a fifty-two week high of $154.67.

Institutional Investors Weigh In On Boise Cascade

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Aspen Investment Management Inc acquired a new stake in shares of Boise Cascade in the 1st quarter valued at $626,000. Strategic Blueprint LLC acquired a new stake in shares of Boise Cascade in the 1st quarter valued at $213,000. First Trust Direct Indexing L.P. acquired a new stake in shares of Boise Cascade in the 1st quarter valued at $204,000. United Capital Management of KS Inc. raised its holdings in shares of Boise Cascade by 3.8% in the 1st quarter. United Capital Management of KS Inc. now owns 27,798 shares of the construction company’s stock valued at $4,263,000 after purchasing an additional 1,014 shares in the last quarter. Finally, Monument Capital Management acquired a new stake in shares of Boise Cascade in the 1st quarter valued at $234,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 40,237 shares in the company, valued at approximately $5,596,564.33. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.98% of the stock is owned by company insiders.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.57%. 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.