Wooded Waterfall (NYSE: BCC – Get a rating) – Equity research analysts DA Davidson lowered their fiscal 2022 earnings estimates for Boise Cascade shares in a research report released to clients and investors on Wednesday, November 2. DA Davidson analyst K. Yinger now expects the construction company to post earnings of $21.68 per share for the year, down from its previous forecast of $22.31. The consensus estimate for Boise Cascade’s current annual earnings is $20.85 per share. DA Davidson also released estimates for Boise Cascade’s fourth quarter 2022 earnings at $3.06 EPS and fiscal year 2023 earnings at $7.37 EPS.
Several other analysts have also recently released reports on the stock. Goldman Sachs Group raised its target price on Boise Cascade shares from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday. Bank of America downgraded shares of Boise Cascade from a “neutral” rating to an “underperforming” rating in a Thursday, Oct. 13 research rating. To finish, StockNews.com began covering Boise Cascade stocks in a research note on Wednesday, October 12. They set a “buy” rating on the stock. One equity research analyst has assigned the stock a sell rating, three have issued a hold rating and two have assigned the stock a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.25.
Boise Cascade stock up 0.5%
Bcc opened at $63.91 on Friday. The company has a 50-day simple moving average of $62.00 and a two-hundred-day simple moving average of $67.96. Boise Cascade has a 52 week low of $55.14 and a 52 week high of $85.17. The company has a market capitalization of $2.52 billion, a PE ratio of 2.79, a growth price-earnings ratio of 1.43 and a beta of 1.55. The company has a quick ratio of 2.14, a current ratio of 2.95 and a leverage ratio of 0.24.
Wooded Waterfall (NYSE: BCC – Get a rating) last released its quarterly earnings data on Tuesday, November 1. The construction company reported earnings per share (EPS) of $5.52 for the quarter, beating consensus analyst estimates of $4.45 by $1.07. The company posted revenue of $2.15 billion in the quarter, versus a consensus estimate of $2.03 billion. Boise Cascade had a net margin of 10.65% and a return on equity of 53.89%. The company’s revenue for the quarter increased by 14.6% compared to the same quarter last year. In the same quarter a year earlier, the company posted EPS of $2.31.
Boise Cascade increases its dividend
The company also recently declared a nil dividend, which will be paid on Thursday, December 15. Shareholders of record on Thursday, December 1 will receive a dividend of $1.15. This is an increase from Boise Cascade’s previous None dividend of $0.12. This represents a return of 0.9%. The ex-dividend date is Wednesday, November 30. Boise Cascade’s payout ratio is currently 2.10%.
Institutional investors weigh in on Boise Cascade
A number of institutional investors and hedge funds have recently changed their positions in BCC. Neo Ivy Capital Management acquired a new position in Boise Cascade during the second quarter worth approximately $25,000. Ronald Blue Trust Inc. increased its position in Boise Cascade shares by 119.8% in the third quarter. Ronald Blue Trust Inc. now owns 455 shares of the construction company worth $27,000 after acquiring 248 more shares in the last quarter. CoreCap Advisors LLC acquired a new position in Boise Cascade during Q2 worth approximately $40,000. Koshinski Asset Management Inc. increased its stake in Boise Cascade shares by 645.0% in Q1. Koshinski Asset Management Inc. now owns 745 shares of the construction company worth $52,000 after buying an additional 645 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in Boise Cascade during the 2nd quarter for a value of $46,000. Institutional investors hold 93.66% of the company’s shares.
Boise Cascade Company Profile
Boise Cascade Company manufactures wood products and distributes 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 wood and lamellar beams used in lintels 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 wood products.
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