FY2023 EPS Estimates for Boise Cascade Lifted by Analyst (NYSE:BCC)

Boise Cascade (NYSE:BCCGet Rating) – Investment analysts at DA Davidson upped their FY2023 earnings per share estimates for shares of Boise Cascade in a report released on Tuesday, May 10th. DA Davidson analyst K. Yinger now forecasts that the construction company will post earnings of $10.77 per share for the year, up from their previous estimate of $10.36. DA Davidson currently has a “Buy” rating and a $82.00 price target on the stock.

Several other research analysts also recently weighed in on the stock. Bank of America upgraded shares of Boise Cascade from an “underperform” rating to a “buy” rating and increased their price target for the stock from $68.00 to $82.00 in a research report on Wednesday, January 19th. Benchmark cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised shares of Boise Cascade from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Tuesday, January 11th. StockNews.com cut shares of Boise Cascade from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 4th. Finally, The Goldman Sachs Group upgraded shares of Boise Cascade from a “sell” rating to a “neutral” rating and raised their target price for the stock from $55.00 to $77.00 in a report on Friday, January 21st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Boise Cascade currently has an average rating of “Buy” and a consensus price target of $79.75.

Shares of Boise Cascade stock opened at $78.36 on Wednesday. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 3.59, a price-to-earnings-growth ratio of 2.20 and a beta of 1.50. The company’s 50 day moving average is $75.16 and its 200 day moving average is $72.32. Boise Cascade has a twelve month low of $46.51 and a twelve month high of $85.17. The company has a quick ratio of 1.91, a current ratio of 2.94 and a debt-to-equity ratio of 0.35.

Boise Cascade (NYSE:BCCGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The construction company reported $7.61 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $1.11. Boise Cascade had a net margin of 10.27% and a return on equity of 67.06%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the company posted $3.76 earnings per share. The business’s revenue for the quarter was up 27.7% on a year-over-year basis.

Several institutional investors and hedge funds have recently modified their holdings of BCC. Rathbones Group PLC raised its holdings in Boise Cascade by 21.0% in the first quarter. Rathbones Group PLC now owns 774,454 shares of the construction company’s stock valued at $53,801,000 after acquiring an additional 134,529 shares in the last quarter. Profund Advisors LLC grew its position in shares of Boise Cascade by 9.6% during the first quarter. Profund Advisors LLC now owns 4,411 shares of the construction company’s stock worth $306,000 after acquiring an additional 387 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Boise Cascade by 28.1% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 19,682 shares of the construction company’s stock valued at $1,367,000 after buying an additional 4,315 shares during the last quarter. Van ECK Associates Corp grew its position in Boise Cascade by 68.2% in the 1st quarter. Van ECK Associates Corp now owns 1,223 shares of the construction company’s stock valued at $85,000 after buying an additional 496 shares during the last quarter. Finally, Swiss National Bank grew its position in Boise Cascade by 7.4% in the 1st quarter. Swiss National Bank now owns 93,000 shares of the construction company’s stock valued at $6,461,000 after buying an additional 6,400 shares during the last quarter. 91.42% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Jill Twedt sold 4,000 shares of the company’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $77.85, for a total value of $311,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dean Michael Brown sold 2,394 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $82.58, for a total transaction of $197,696.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,215 shares of company stock worth $882,242. 0.89% of the stock is owned by insiders.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be given a dividend of $2.62 per share. This represents a $10.48 annualized dividend and a yield of 13.37%. The ex-dividend date is Tuesday, May 31st. This is an increase from Boise Cascade’s previous quarterly dividend of $0.12. Boise Cascade’s payout ratio is currently 2.20%.

Boise Cascade Company Profile (Get Rating)

Boise Cascade Company manufactures wood products and distributes 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 lumber products.

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