Boise Cascade (NYSE:BCC) Declares Quarterly Dividend of $0.21

Boise Cascade (NYSE:BCC) announced a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Investors of record on Tuesday, September 3rd will be given a dividend of 0.21 per share by the construction company on Monday, September 16th. This represents a $0.84 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20.

Boise Cascade has raised its dividend by an average of 20.5% per year over the last three years. Boise Cascade has a payout ratio of 8.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Boise Cascade to earn $10.77 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 7.8%.

Boise Cascade Stock Up 1.3 %

NYSE:BCC opened at $135.62 on Monday. The firm has a 50-day simple moving average of $127.88 and a two-hundred day simple moving average of $133.83. The firm has a market cap of $5.35 billion, a P/E ratio of 11.03 and a beta of 1.50. Boise Cascade has a fifty-two week low of $87.32 and a fifty-two week high of $154.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company earned $3.67 earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts predict that Boise Cascade will post 9.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BCC has been the subject of several research reports. Truist Financial reaffirmed a “buy” rating and set a $154.00 price target (down previously from $159.00) on shares of Boise Cascade in a research report on Wednesday, August 7th. The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $124.75.

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.