Boise Cascade (NYSE:BCC - Get Free Report) shares hit a new 52-week low during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $110.56 and last traded at $108.87, with a volume of 166978 shares changing hands. The stock had previously closed at $116.48.
The construction company reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%.
Boise Cascade Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be issued a $0.21 dividend. The ex-dividend date is Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.79%. Boise Cascade's dividend payout ratio (DPR) is 8.79%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on BCC. StockNews.com lowered Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. DA Davidson cut their target price on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a report on Monday. The Goldman Sachs Group decreased their price target on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Benchmark reissued a "hold" rating on shares of Boise Cascade in a research note on Tuesday. Finally, BMO Capital Markets dropped their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Boise Cascade presently has a consensus rating of "Hold" and an average target price of $128.50.
Read Our Latest Stock Report on Boise Cascade
Institutional Trading of Boise Cascade
A number of institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Boise Cascade in the fourth quarter valued at $55,680,000. First Trust Advisors LP raised its position in Boise Cascade by 37.9% in the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock worth $84,691,000 after purchasing an additional 195,773 shares during the period. American Century Companies Inc. raised its position in Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock worth $134,831,000 after purchasing an additional 121,790 shares during the period. Bank of Montreal Can lifted its stake in Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock worth $17,907,000 after purchasing an additional 119,103 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Boise Cascade by 534.5% during the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company's stock valued at $11,921,000 after buying an additional 84,487 shares during the period. 96.18% of the stock is currently owned by institutional investors.
Boise Cascade Stock Performance
The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $122.50 and a 200 day moving average price of $132.18. The stock has a market cap of $4.04 billion, a P/E ratio of 11.14 and a beta of 1.57.
About Boise Cascade
(
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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.
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