Brokerages expect Boise Cascade Co (NYSE:BCC) to announce sales of $1.27 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Boise Cascade’s earnings, with the lowest sales estimate coming in at $1.26 billion and the highest estimate coming in at $1.27 billion. Boise Cascade posted sales of $1.34 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.2%. The firm is scheduled to announce its next earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that Boise Cascade will report full year sales of $4.69 billion for the current financial year, with estimates ranging from $4.68 billion to $4.70 billion. For the next fiscal year, analysts anticipate that the business will post sales of $4.85 billion, with estimates ranging from $4.78 billion to $4.91 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Boise Cascade.
Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.50 by $0.21. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.27 billion. Boise Cascade had a positive return on equity of 8.46% and a negative net margin of 0.41%. The company’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 earnings per share.
Several brokerages have recently commented on BCC. Zacks Investment Research raised Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a research note on Thursday, August 8th. Bank of America downgraded Boise Cascade from a “neutral” rating to an “underperform” rating and set a $22.00 price objective for the company. in a research note on Friday, July 12th. ValuEngine raised Boise Cascade from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Goldman Sachs Group raised Boise Cascade from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.80.
Shares of Boise Cascade stock opened at $29.20 on Wednesday. The stock has a market capitalization of $1.16 billion, a P/E ratio of 12.75, a PEG ratio of 1.98 and a beta of 2.10. Boise Cascade has a 52 week low of $22.00 and a 52 week high of $47.15. The business has a 50 day moving average of $27.50. The company has a current ratio of 2.53, a quick ratio of 1.29 and a debt-to-equity ratio of 0.74.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, August 30th. Boise Cascade’s payout ratio is 15.72%.
In other Boise Cascade news, Director Kristopher J. Matula purchased 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average cost of $23.12 per share, with a total value of $80,920.00. Following the completion of the transaction, the director now owns 14,049 shares of the company’s stock, valued at approximately $324,812.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dean Michael Brown sold 3,947 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $29.91, for a total value of $118,054.77. Following the sale, the executive vice president now directly owns 29,196 shares of the company’s stock, valued at $873,252.36. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in shares of Boise Cascade by 10.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,177,418 shares of the construction company’s stock valued at $75,781,000 after purchasing an additional 289,177 shares during the period. Bank of America Corp DE increased its holdings in shares of Boise Cascade by 16.7% in the 4th quarter. Bank of America Corp DE now owns 346,551 shares of the construction company’s stock valued at $8,266,000 after purchasing an additional 49,695 shares during the period. Norges Bank acquired a new position in shares of Boise Cascade in the 4th quarter valued at about $20,938,000. Deutsche Bank AG increased its holdings in shares of Boise Cascade by 74.5% in the 4th quarter. Deutsche Bank AG now owns 443,718 shares of the construction company’s stock valued at $10,580,000 after purchasing an additional 189,406 shares during the period. Finally, 6 Meridian acquired a new position in shares of Boise Cascade in the 1st quarter valued at about $213,000. 89.94% of the stock is owned by institutional investors.
Boise Cascade Company Profile
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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; and structural, appearance, and industrial plywood panels.
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