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

Boise Cascade (NYSE:BCC) – DA Davidson increased their Q1 2024 EPS estimates for shares of Boise Cascade in a research note issued on Thursday, April 25th. DA Davidson analyst K. Yinger now expects that the construction company will earn $2.30 per share 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.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Truist Financial increased their price target on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group increased their price target on shares of Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Boise Cascade presently has a consensus rating of “Hold” and a consensus target price of $125.00.

Boise Cascade Stock Performance

Boise Cascade stock opened at $139.42 on Friday. The firm has a 50 day simple moving average of $139.89 and a 200-day simple moving average of $125.35. Boise Cascade has a 1-year low of $64.56 and a 1-year high of $154.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 11.50 and a beta of 1.60.

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

Institutional Investors Weigh In On Boise Cascade

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

Insider Buying and Selling

In related 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 completion of the transaction, the executive vice president now owns 40,237 shares of the company’s stock, valued at approximately $5,596,564.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were given 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 dividend yield of 0.57%. Boise Cascade’s payout ratio is currently 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.