Q3 Earnings Forecast for Boise Cascade Issued By DA Davidson

Boise Cascade (NYSE:BCC) – Stock analysts at DA Davidson lifted their Q3 2024 earnings per share estimates for Boise Cascade in a research note issued to investors on Thursday, October 24th. DA Davidson analyst K. Yinger now expects that the construction company will earn $2.31 per share for the quarter, up from their prior forecast 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) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the company earned $3.67 EPS. The business’s revenue was down 1.0% on a year-over-year basis.

BCC has been the topic of several other reports. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Bank of America raised their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. Truist Financial upped their target price on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group dropped their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, BMO Capital Markets upped their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Boise Cascade has an average rating of “Hold” and a consensus target price of $135.75.

Boise Cascade Stock Down 1.2 %

BCC stock opened at $135.38 on Monday. Boise Cascade has a one year low of $87.32 and a one year high of $154.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The firm’s fifty day moving average is $135.76 and its 200 day moving average is $132.87. The firm has a market cap of $5.34 billion, a PE ratio of 11.01 and a beta of 1.52.

Institutional Investors Weigh In On Boise Cascade

Large investors have recently modified their holdings of the business. Larson Financial Group LLC acquired a new position in Boise Cascade during the second quarter worth about $36,000. iA Global Asset Management Inc. acquired a new stake in shares of Boise Cascade in the first quarter valued at approximately $82,000. Daiwa Securities Group Inc. lifted its position in Boise Cascade by 500.0% during the first quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after buying an additional 500 shares in the last quarter. GAMMA Investing LLC boosted its stake in Boise Cascade by 33.4% during the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after buying an additional 197 shares during the last quarter. Finally, CWM LLC grew its holdings in Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after buying an additional 141 shares in the last quarter. Hedge funds and other institutional investors 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. Investors of record on Tuesday, September 3rd were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.62%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 3rd. Boise Cascade’s payout ratio 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.