FY2024 EPS Estimates for Boise Cascade Cut by DA Davidson

Boise Cascade (NYSE:BCC) – Equities researchers at DA Davidson reduced their FY2024 EPS estimates for shares of Boise Cascade in a research note issued on Wednesday, November 6th. DA Davidson analyst K. Yinger now forecasts that the construction company will post earnings of $9.62 per share for the year, down from their previous forecast of $9.63. The consensus estimate for Boise Cascade’s current full-year earnings is $9.69 per share. DA Davidson also issued estimates for Boise Cascade’s Q4 2024 earnings at $1.85 EPS and FY2025 earnings at $10.46 EPS.

A number of other equities research analysts have also recently weighed in on the stock. Loop Capital started coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. BMO Capital Markets lifted their price target on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Bank of America raised their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Truist Financial boosted their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and an average target price of $139.60.

Boise Cascade Trading Down 0.6 %

NYSE:BCC opened at $140.85 on Thursday. Boise Cascade has a 52 week low of $102.13 and a 52 week high of $154.67. The business’s 50 day moving average is $136.39 and its two-hundred day moving average is $132.63. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.56 billion, a PE ratio of 13.78 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.04). The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a return on equity of 17.98% and a net margin of 5.95%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.58 earnings per share.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.60%. Boise Cascade’s dividend payout ratio (DPR) is 8.22%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new stake in shares of Boise Cascade during the 3rd quarter valued at about $28,000. Larson Financial Group LLC bought a new stake in shares of Boise Cascade during the second quarter valued at approximately $36,000. iA Global Asset Management Inc. purchased a new position in Boise Cascade in the 1st quarter worth about $82,000. Daiwa Securities Group Inc. lifted its holdings in shares of Boise Cascade by 500.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock valued at $92,000 after buying an additional 500 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Boise Cascade by 33.4% in 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. Institutional investors and hedge funds own 96.18% of the company’s stock.

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.