DA Davidson Increases Earnings Estimates for Boise Cascade

Boise Cascade (NYSE:BCC - Free Report) - Investment analysts at DA Davidson upped their Q3 2024 earnings per share estimates for shares of Boise Cascade in a research note issued to investors on Thursday, October 24th. DA Davidson analyst K. Yinger now anticipates that the construction company will earn $2.31 per share for the quarter, up from their previous estimate of $2.28. The consensus estimate for Boise Cascade's current full-year earnings is $9.71 per share. DA Davidson also issued estimates for Boise Cascade's FY2024 earnings at $9.63 EPS and FY2025 earnings at $10.56 EPS.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm earned $3.67 earnings per share. The company's revenue for the quarter was down 1.0% compared to the same quarter last year.

A number of other brokerages also recently weighed in on BCC. Truist Financial boosted their price target on Boise Cascade from $154.00 to $161.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. BMO Capital Markets increased their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. StockNews.com raised shares of Boise Cascade from a "hold" rating to a "buy" rating in a report on Tuesday, October 8th. Bank of America increased their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group decreased their target price on Boise Cascade from $140.00 to $122.00 and set a "neutral" rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Boise Cascade currently has an average rating of "Hold" and an average price target of $135.75.

Boise Cascade Stock Up 2.4 %

Shares of BCC stock traded up $3.20 during trading hours on Monday, hitting $138.58. 157,978 shares of the company were exchanged, compared to its average volume of 308,971. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 11.27 and a beta of 1.52. Boise Cascade has a one year low of $87.32 and a one year high of $154.67. The business's 50-day simple moving average is $135.99 and its two-hundred day simple moving average is $132.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC bought a new stake in Boise Cascade during the second quarter worth approximately $36,000. iA Global Asset Management Inc. acquired a new position in Boise Cascade during the first quarter worth about $82,000. Daiwa Securities Group Inc. raised its position in Boise Cascade by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company's stock worth $92,000 after acquiring an additional 500 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Boise Cascade by 33.4% in the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company's stock valued at $94,000 after acquiring an additional 197 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company's stock valued at $95,000 after purchasing an additional 141 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.21 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a dividend yield of 0.61%. This is a positive change from Boise Cascade's previous quarterly dividend of $0.20. Boise Cascade's dividend payout ratio (DPR) is presently 6.83%.

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.