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

Boise Cascade (NYSE:BCC) – Analysts at DA Davidson upped their FY2023 earnings per share (EPS) estimates for Boise Cascade in a research report issued on Wednesday, November 1st. DA Davidson analyst K. Yinger now forecasts that the construction company will earn $11.98 per share for the year, up from their previous estimate of $11.54. The consensus estimate for Boise Cascade’s current full-year earnings is $11.80 per share. DA Davidson also issued estimates for Boise Cascade’s Q4 2023 earnings at $2.30 EPS.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Tuesday, October 31st. The construction company reported $3.58 EPS for the quarter, topping the consensus estimate of $3.47 by $0.11. Boise Cascade had a return on equity of 23.21% and a net margin of 7.38%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the firm posted $5.52 earnings per share. The firm’s revenue was down 14.9% on a year-over-year basis.

A number of other equities research analysts have also weighed in on BCC. The Goldman Sachs Group raised their price objective on Boise Cascade from $96.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Truist Financial lowered their price objective on Boise Cascade from $129.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets raised their price objective on Boise Cascade from $90.00 to $115.00 and gave the company a “market perform” rating in a research note on Wednesday, August 2nd. StockNews.com began coverage on Boise Cascade in a research note on Thursday, October 5th. They set a “buy” rating for the company. Finally, Bank of America lowered Boise Cascade from a “neutral” rating to an “underperform” rating and set a $111.00 price objective for the company. in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $111.60.

Boise Cascade Price Performance

BCC stock opened at $101.18 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 3.55. Boise Cascade has a 1 year low of $59.32 and a 1 year high of $112.58. The firm has a market cap of $4.01 billion, a P/E ratio of 8.01 and a beta of 1.54. The stock has a 50-day simple moving average of $100.08 and a 200-day simple moving average of $90.90.

Institutional Trading of Boise Cascade

Several hedge funds and other institutional investors have recently modified their holdings of BCC. Metis Global Partners LLC acquired a new stake in Boise Cascade during the first quarter valued at $291,000. Versor Investments LP boosted its position in Boise Cascade by 193.8% during the first quarter. Versor Investments LP now owns 8,664 shares of the construction company’s stock valued at $548,000 after purchasing an additional 5,715 shares during the last quarter. BOKF NA acquired a new stake in Boise Cascade during the first quarter valued at $130,000. Credit Suisse AG boosted its position in Boise Cascade by 4.4% during the first quarter. Credit Suisse AG now owns 52,128 shares of the construction company’s stock valued at $3,297,000 after purchasing an additional 2,183 shares during the last quarter. Finally, Prelude Capital Management LLC acquired a new stake in Boise Cascade during the first quarter valued at $244,000. Institutional investors and hedge funds own 91.75% of the company’s stock.

Insider Activity

In other news, SVP Jill Twedt sold 2,500 shares of Boise Cascade stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $105.97, for a total transaction of $264,925.00. Following the transaction, the senior vice president now directly owns 33,812 shares in the company, valued at approximately $3,583,057.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Jill Twedt sold 2,500 shares of Boise Cascade stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $105.97, for a total value of $264,925.00. Following the transaction, the senior vice president now directly owns 33,812 shares in the company, valued at approximately $3,583,057.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dean Michael Brown sold 5,481 shares of Boise Cascade stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $109.12, for a total value of $598,086.72. Following the completion of the transaction, the executive vice president now owns 42,450 shares in the company, valued at $4,632,144. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,968 shares of company stock worth $2,045,908. 0.98% of the stock is owned by company insiders.

Boise Cascade Increases Dividend

The company also recently declared a None dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $5.20 per share. The ex-dividend date is Thursday, November 30th. This is a boost from Boise Cascade’s previous None dividend of $1.15. This represents a dividend yield of 0.9%. Boise Cascade’s dividend payout ratio (DPR) is 6.33%.

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 lumber products.