Equities Analysts Set Expectations for Boise Cascade’s Q3 2022 Earnings (NYSE:BCC)

Boise Cascade (NYSE:BCCGet Rating) – Stock analysts at DA Davidson issued their Q3 2022 earnings per share estimates for Boise Cascade in a report issued on Wednesday, August 3rd. DA Davidson analyst K. Yinger expects that the construction company will post earnings of $5.44 per share for the quarter. The consensus estimate for Boise Cascade’s current full-year earnings is $18.50 per share. DA Davidson also issued estimates for Boise Cascade’s FY2022 earnings at $22.31 EPS and FY2023 earnings at $9.05 EPS.

Boise Cascade (NYSE:BCCGet Rating) last posted its earnings results on Monday, August 1st. The construction company reported $5.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.79. Boise Cascade had a return on equity of 51.48% and a net margin of 9.45%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm earned $7.62 earnings per share. The company’s revenue was down 6.8% on a year-over-year basis.

Other research analysts have also recently issued reports about the company. Bank of America cut Boise Cascade from a “buy” rating to a “neutral” rating and set a $71.00 target price for the company. in a research note on Thursday, June 23rd. Truist Financial assumed coverage on Boise Cascade in a research report on Wednesday, June 29th. They set a “hold” rating and a $64.00 price objective for the company. The Goldman Sachs Group upped their price objective on Boise Cascade from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday. Benchmark cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, StockNews.com cut Boise Cascade from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 4th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $71.75.

Boise Cascade Stock Down 0.3 %

NYSE:BCC opened at $69.16 on Friday. Boise Cascade has a 1 year low of $51.30 and a 1 year high of $85.17. The company has a current ratio of 3.18, a quick ratio of 1.84 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 3.52, a PEG ratio of 1.63 and a beta of 1.60. The stock has a 50-day moving average price of $67.21 and a two-hundred day moving average price of $73.08.

Institutional Trading of Boise Cascade

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC raised its holdings in Boise Cascade by 25.2% during the second quarter. Los Angeles Capital Management LLC now owns 29,793 shares of the construction company’s stock worth $1,772,000 after acquiring an additional 5,990 shares in the last quarter. Convergence Investment Partners LLC raised its holdings in Boise Cascade by 11.6% during the second quarter. Convergence Investment Partners LLC now owns 2,598 shares of the construction company’s stock worth $155,000 after acquiring an additional 269 shares in the last quarter. Seizert Capital Partners LLC raised its holdings in Boise Cascade by 72.9% during the second quarter. Seizert Capital Partners LLC now owns 37,189 shares of the construction company’s stock worth $2,212,000 after acquiring an additional 15,681 shares in the last quarter. Aviva PLC bought a new stake in Boise Cascade during the second quarter worth about $1,624,000. Finally, TD Asset Management Inc. raised its holdings in Boise Cascade by 2.1% during the second quarter. TD Asset Management Inc. now owns 98,100 shares of the construction company’s stock worth $5,836,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 91.42% of the company’s stock.

Boise Cascade Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.48 annualized dividend and a yield of 0.69%. Boise Cascade’s payout ratio is presently 2.44%.

About Boise Cascade

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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 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 lumber products.

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