Boise Cascade Co (NYSE:BCC) – Research analysts at Seaport Global Securities lifted their Q2 2019 earnings estimates for shares of Boise Cascade in a note issued to investors on Wednesday, February 27th. Seaport Global Securities analyst R. Garner now forecasts that the construction company will post earnings of $0.99 per share for the quarter, up from their prior estimate of $0.81. Seaport Global Securities also issued estimates for Boise Cascade’s Q3 2019 earnings at $0.48 EPS and Q4 2019 earnings at $0.28 EPS.
Get Boise Cascade alerts:A number of other brokerages have also recently weighed in on BCC. DA Davidson dropped their price target on Boise Cascade to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 7th. BMO Capital Markets reiterated a “hold” rating and set a $32.00 price target on shares of Boise Cascade in a research report on Wednesday, January 30th. Zacks Investment Research upgraded Boise Cascade from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Finally, TheStreet cut Boise Cascade from a “b-” rating to a “c+” rating in a research report on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $41.75.
Shares of Boise Cascade stock opened at $27.99 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.17 and a current ratio of 2.36. The company has a market cap of $1.15 billion, a PE ratio of 12.22, a P/E/G ratio of 1.99 and a beta of 1.91. Boise Cascade has a twelve month low of $22.00 and a twelve month high of $49.30.
Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Tuesday, February 26th. The construction company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($1.84). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.09 billion. Boise Cascade had a return on equity of 17.97% and a net margin of 2.23%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. APG Asset Management N.V. increased its position in Boise Cascade by 106.2% in the 4th quarter. APG Asset Management N.V. now owns 73,600 shares of the construction company’s stock valued at $1,536,000 after acquiring an additional 37,900 shares during the period. Millennium Management LLC increased its position in Boise Cascade by 69.9% in the 4th quarter. Millennium Management LLC now owns 457,602 shares of the construction company’s stock valued at $10,914,000 after acquiring an additional 188,345 shares during the period. Macquarie Group Ltd. increased its position in Boise Cascade by 4.4% in the 4th quarter. Macquarie Group Ltd. now owns 1,667,171 shares of the construction company’s stock valued at $39,762,000 after acquiring an additional 70,900 shares during the period. Thrivent Financial for Lutherans increased its position in Boise Cascade by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 27,660 shares of the construction company’s stock valued at $660,000 after acquiring an additional 608 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in Boise Cascade in the 4th quarter valued at approximately $596,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.29%. The ex-dividend date is Thursday, February 28th. Boise Cascade’s dividend payout ratio is currently 15.72%.
About Boise Cascade
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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, studs, and particleboards.
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