FY2024 EPS Estimate for Boise Cascade Reduced by Analyst

Boise Cascade (NYSE:BCC) – Research analysts at DA Davidson reduced their FY2024 earnings estimates for Boise Cascade in a report issued on Wednesday, November 6th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings of $9.62 per share for the year, down from their previous forecast of $9.63. The consensus estimate for Boise Cascade’s current full-year earnings is $9.69 per share. DA Davidson also issued estimates for Boise Cascade’s Q4 2024 earnings at $1.85 EPS and FY2025 earnings at $10.46 EPS.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.04). The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a return on equity of 17.98% and a net margin of 5.95%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the company earned $3.58 EPS.

Several other research firms also recently commented on BCC. Loop Capital started coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. Bank of America raised their target price on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. BMO Capital Markets increased their price target on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Truist Financial increased their target price on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Trading Down 0.6 %

NYSE:BCC opened at $140.85 on Thursday. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 13.78 and a beta of 1.53. The firm has a 50 day moving average of $136.39 and a 200 day moving average of $132.63. Boise Cascade has a 52 week low of $102.13 and a 52 week high of $154.67.

Institutional Investors Weigh In On Boise Cascade

Several hedge funds have recently made changes to their positions in BCC. Dimensional Fund Advisors LP boosted its stake in Boise Cascade by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock worth $335,419,000 after purchasing an additional 22,053 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Boise Cascade by 107.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after purchasing an additional 579,759 shares during the last quarter. American Century Companies Inc. raised its stake in Boise Cascade by 2.4% in the 2nd quarter. American Century Companies Inc. now owns 897,137 shares of the construction company’s stock valued at $106,957,000 after acquiring an additional 21,030 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after acquiring an additional 120,600 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Boise Cascade by 293.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock valued at $36,346,000 after acquiring an additional 176,738 shares during the period. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s payout ratio is currently 8.22%.

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.