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

Boise Cascade (NYSE:BCC) – Research analysts at DA Davidson raised their Q1 2024 earnings per share estimates for Boise Cascade in a note issued to investors on Thursday, April 25th. DA Davidson analyst K. Yinger now forecasts that the construction company will post earnings per share of $2.30 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.

Boise Cascade (NYSE:BCC) last posted 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 firm had revenue of $1.64 billion for 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 firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.95 earnings per share.

A number of other research firms also recently weighed in on BCC. The Goldman Sachs Group raised their price target on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, Truist Financial raised their price target on Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $125.00.

Boise Cascade Stock Performance

Shares of NYSE BCC opened at $138.46 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.26 and a current ratio of 3.46. The stock has a 50 day moving average price of $139.98 and a 200 day moving average price of $125.26. The stock has a market capitalization of $5.48 billion, a PE ratio of 11.42 and a beta of 1.60. Boise Cascade has a 52 week low of $64.39 and a 52 week high of $154.67.

Institutional Trading of Boise Cascade

Several hedge funds have recently added to or reduced their stakes in BCC. Norges Bank acquired a new stake in Boise Cascade during the 4th quarter worth approximately $60,383,000. Wellington Management Group LLP raised its holdings in shares of Boise Cascade by 45.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,349,170 shares of the construction company’s stock worth $139,018,000 after buying an additional 418,891 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Boise Cascade by 59.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,096,986 shares of the construction company’s stock worth $141,906,000 after buying an additional 409,906 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Boise Cascade by 13.8% during the 3rd quarter. Acadian Asset Management LLC now owns 1,473,620 shares of the construction company’s stock worth $151,820,000 after buying an additional 178,439 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Boise Cascade by 55.0% during the 4th quarter. LSV Asset Management now owns 446,057 shares of the construction company’s stock worth $57,702,000 after buying an additional 158,363 shares in the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Boise Cascade

In other news, EVP Dean Michael Brown sold 11,117 shares of Boise Cascade stock in a transaction that occurred on Monday, March 4th. The stock was 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 directly owns 40,237 shares in the company, valued at approximately $5,596,564.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

Boise Cascade Announces Dividend

The firm also recently announced 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 of this dividend was Thursday, February 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.58%. Boise Cascade’s dividend payout ratio is currently 6.60%.

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.