Boise Cascade Co (NYSE:BCC) – Equities research analysts at DA Davidson decreased their FY2019 earnings per share (EPS) estimates for Boise Cascade in a note issued to investors on Monday, November 11th. DA Davidson analyst S. Chercover now forecasts that the construction company will post earnings per share of $1.82 for the year, down from their previous forecast of $2.01. DA Davidson has a “Neutral” rating and a $40.00 price target on the stock. DA Davidson also issued estimates for Boise Cascade’s Q4 2019 earnings at $0.10 EPS and FY2020 earnings at $2.08 EPS.
Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, November 7th. The construction company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.01. Boise Cascade had a negative net margin of 0.13% and a positive return on equity of 8.10%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business earned $0.76 EPS. Boise Cascade’s quarterly revenue was down 5.2% on a year-over-year basis.
Shares of BCC opened at $39.00 on Wednesday. Boise Cascade has a 52 week low of $22.00 and a 52 week high of $39.65. The firm has a market cap of $1.50 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 2.45 and a beta of 2.02. The firm’s 50-day simple moving average is $34.35 and its 200 day simple moving average is $29.20. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.42 and a current ratio of 2.53.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 1.03%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.09. Boise Cascade’s payout ratio is currently 15.72%.
In other Boise Cascade news, EVP Dean Michael Brown sold 2,529 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $37.64, for a total value of $95,191.56. Following the completion of the sale, the executive vice president now owns 26,667 shares of the company’s stock, valued at approximately $1,003,745.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stewart David acquired 196,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was acquired at an average cost of $0.23 per share, with a total value of $45,276.00. Insiders sold a total of 44,396 shares of company stock valued at $1,683,907 in the last three months. Insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its position in shares of Boise Cascade by 12.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 49,180 shares of the construction company’s stock worth $1,603,000 after buying an additional 5,486 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Boise Cascade during the third quarter worth $145,000. Russell Investments Group Ltd. increased its position in shares of Boise Cascade by 56.6% during the third quarter. Russell Investments Group Ltd. now owns 76,056 shares of the construction company’s stock worth $2,479,000 after buying an additional 27,486 shares during the period. California Public Employees Retirement System increased its position in shares of Boise Cascade by 31.2% during the third quarter. California Public Employees Retirement System now owns 72,908 shares of the construction company’s stock worth $2,376,000 after buying an additional 17,324 shares during the period. Finally, James Investment Research Inc. increased its position in shares of Boise Cascade by 25.7% during the third quarter. James Investment Research Inc. now owns 18,605 shares of the construction company’s stock worth $606,000 after buying an additional 3,800 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.
About Boise Cascade
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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; and structural, appearance, and industrial plywood panels.
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