FY2024 Earnings Estimate for Boise Cascade Issued By DA Davidson (NYSE:BCC)

Boise Cascade (NYSE:BCC) – Equities researchers at DA Davidson dropped their FY2024 EPS estimates for shares of Boise Cascade in a note issued to investors on Thursday, April 25th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings per share of $11.51 for the year, down from their prior forecast of $11.69. The consensus estimate for Boise Cascade’s current full-year earnings is $11.44 per share.

Boise Cascade (NYSE:BCC) last announced its earnings results 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 business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $2.95 EPS.

BCC has been the topic of several other reports. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. The Goldman Sachs Group boosted their price objective on Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Finally, Truist Financial raised their target price on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $125.00.

Boise Cascade Trading Down 4.3 %

Shares of BCC stock opened at $132.30 on Monday. Boise Cascade has a fifty-two week low of $66.82 and a fifty-two week high of $154.67. 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’s fifty day moving average is $139.77 and its two-hundred day moving average is $126.59. The firm has a market capitalization of $5.23 billion, a P/E ratio of 10.92 and a beta of 1.60.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.60%. Boise Cascade’s dividend payout ratio is currently 6.60%.

Insider Buying and Selling

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the sale, the executive vice president now owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.05% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boise Cascade

Hedge funds and other institutional investors have recently bought and sold shares of the company. USA Financial Formulas lifted its position in shares of Boise Cascade by 5,050.0% during the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock worth $27,000 after purchasing an additional 202 shares in the last quarter. Principal Securities Inc. purchased a new stake in Boise Cascade during the 4th quarter worth approximately $27,000. Global Retirement Partners LLC lifted its holdings in Boise Cascade by 1,147.1% during the 4th quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after buying an additional 195 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in Boise Cascade during the 4th quarter worth approximately $36,000. Finally, Hexagon Capital Partners LLC boosted its position in Boise Cascade by 76.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 433 shares of the construction company’s stock valued at $45,000 after buying an additional 187 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

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.