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

Boise Cascade (NYSE:BCC - Get Free Report) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.21 per share by the construction company on Wednesday, December 18th. This represents a $0.84 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Monday, December 2nd.

Boise Cascade has raised its dividend payment by an average of 20.5% per year over the last three years. Boise Cascade has a payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Boise Cascade to earn $10.50 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 8.0%.

Boise Cascade Trading Up 0.9 %

BCC traded up $1.26 during midday trading on Friday, hitting $134.29. 136,251 shares of the company were exchanged, compared to its average volume of 307,512. The firm's 50 day moving average price is $136.18 and its 200-day moving average price is $132.66. Boise Cascade has a 1-year low of $99.11 and a 1-year high of $154.67. The firm has a market capitalization of $5.30 billion, a P/E ratio of 11.81 and a beta of 1.52. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.16. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. Boise Cascade's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.67 earnings per share. As a group, equities analysts forecast that Boise Cascade will post 9.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BCC has been the subject of a number of research reports. StockNews.com raised Boise Cascade from a "hold" rating to a "buy" rating in a research note on Tuesday, October 8th. The Goldman Sachs Group decreased their price target 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. Loop Capital started coverage on shares of Boise Cascade in a research note on Friday. They issued a "buy" rating and a $155.00 price objective on the stock. Bank of America boosted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a research report on Thursday, September 12th. Finally, BMO Capital Markets raised their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.