FY2024 EPS Estimates for Boise Cascade Decreased by DA Davidson (NYSE:BCC)

Boise Cascade (NYSE:BCC) – Research analysts at DA Davidson decreased their FY2024 earnings estimates for shares of Boise Cascade in a research report issued on Thursday, April 25th. DA Davidson analyst K. Yinger now anticipates that the construction company will post earnings of $11.51 per share for the year, down from their previous forecast of $11.69. The consensus estimate for Boise Cascade’s current full-year earnings is $11.44 per share.

BCC has been the subject of a number of other research reports. Truist Financial upped their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. The Goldman Sachs Group increased their price target 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. Finally, StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Boise Cascade currently has a consensus rating of “Hold” and an average target price of $125.00.

Boise Cascade Stock Up 0.7 %

Boise Cascade stock opened at $139.42 on Monday. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 11.50 and a beta of 1.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26. Boise Cascade has a fifty-two week low of $64.56 and a fifty-two week high of $154.67. The firm has a fifty day moving average price of $139.88 and a two-hundred day moving average price of $125.82.

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

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. Boise Cascade’s dividend payout ratio is currently 6.60%.

Insider Buying and Selling at Boise Cascade

In related news, EVP Dean Michael Brown sold 11,117 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 40,237 shares in the company, valued at $5,596,564.33. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Boise Cascade

A number of institutional investors have recently modified their holdings of the business. QRG Capital Management Inc. bought a new stake in Boise Cascade during the third quarter worth about $2,682,000. DekaBank Deutsche Girozentrale lifted its position in Boise Cascade by 54.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock worth $7,596,000 after purchasing an additional 20,712 shares during the period. Nisa Investment Advisors LLC lifted its position in Boise Cascade by 81.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 8,135 shares of the construction company’s stock worth $1,052,000 after purchasing an additional 3,660 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Boise Cascade by 23.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,241 shares of the construction company’s stock worth $952,000 after acquiring an additional 1,772 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Boise Cascade by 312.5% in the third quarter. Hsbc Holdings PLC now owns 30,893 shares of the construction company’s stock worth $3,225,000 after acquiring an additional 23,404 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

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.