Boise Cascade (BCC) to Issue Quarterly Dividend of $0.21 on December 18th

Boise Cascade (NYSE:BCC) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.21 per share by the construction company on Wednesday, December 18th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, December 2nd.

Boise Cascade has raised its dividend by an average of 20.5% annually over the last three years. Boise Cascade has a payout ratio of 8.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Boise Cascade to earn $10.30 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 8.2%.

Boise Cascade Price Performance

BCC stock opened at $147.66 on Friday. Boise Cascade has a 52-week low of $106.38 and a 52-week high of $155.42. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 14.45 and a beta of 1.53. The business has a fifty day moving average of $140.24 and a two-hundred day moving average of $133.40.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a return on equity of 18.24% 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 in the previous year, the business posted $3.58 earnings per share. As a group, research analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BCC. Truist Financial boosted their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets lifted their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Bank of America upped their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Loop Capital began coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective for the company. Finally, StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.60.

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.