Second quarter 2021 profit estimate for Boise Cascade released by DA Davidson (NYSE: BCC)
Boise Cascade (NYSE: BCC) – Investment analysts at DA Davidson lowered their earnings per share (EPS) estimates for the second quarter of 2021 for Boise Cascade in a report released on Monday, August 2. DA Davidson analyst K. Yinger now predicts the construction company will post earnings per share of $ 4.87 for the quarter, down from its previous forecast of $ 5.24. DA Davidson is currently rated “Neutral” and has a target price of $ 75.00 on the stock. DA Davidson also released estimates for Boise Cascade’s earnings for fiscal 2022 at $ 6.43 per share.
A number of other research companies have also recently commented on BCC. BMO Capital Markets raised its price target on Boise Cascade from $ 53.00 to $ 60.00 and assigned the company a âmarket performanceâ rating in a report released on Monday, May 10. The Goldman Sachs group began covering shares of Boise Cascade in a research note on Thursday, July 15. They set a “sell” rating and a price target of $ 45 for the stock. Finally, Zacks Investment Research downgraded Boise Cascade shares from a âbuyâ rating to a âstrong sellâ rating in a Tuesday July 27th research note. Three investment analysts gave the stock a sell rating, two issued a conservation rating and one assigned a buy rating to the company. Boise Cascade currently has a consensus hold rating and a consensus target price of $ 56.17.
NYSE BCC opened at $ 49.22 on Tuesday. The company has a 50-day moving average of $ 57.68. The company has a market cap of $ 1.94 billion, a P / E ratio of 5.53, a PEG ratio of 0.38 and a beta of 1.99. The company has a quick ratio of 1.47, a current ratio of 2.34, and a debt ratio of 0.48. Boise Cascade has a 12 month low of $ 36.90 and a 12 month high of $ 78.35. Boise Cascade (NYSE: BCC) last reported its quarterly results on Monday, August 2. The construction company reported earnings per share (EPS) of $ 7.62 for the quarter, beating analyst consensus estimates of $ 4.87 by $ 2.75. Boise Cascade had a net margin of 5.09% and a return on equity of 43.52%. The company posted revenue of $ 2.44 billion for the quarter, compared to $ 2.06 billion expected by analysts. During the same period last year, the company made a profit of $ 0.85 per share. The company’s revenue for the quarter increased 96.6% year-over-year.
The company also recently unveiled a quarterly dividend, which will be paid on Wednesday, September 15. Shareholders of record on Wednesday, September 1 will receive a dividend of $ 0.10 per share. This represents an annualized dividend of $ 0.40 and a dividend yield of 0.81%. The ex-dividend date is Tuesday August 31. Boise Cascade’s dividend payout ratio (DPR) is currently 6.53%.
In addition, SVP Jill Twedt sold 2,070 shares of the company in a transaction dated Monday, May 10. The stock was sold for an average price of $ 75.36, for a total value of $ 155,995.20. Following the sale, the Senior Vice-President now directly owns 26,306 shares of the company, valued at $ 1,982,420.16. The sale was disclosed in a file with the SEC, which can be accessed through the SEC’s website. In addition, director Mack L. Hogans sold 2,635 shares of the company in a transaction dated Monday, May 10. The shares were sold at an average price of $ 75.67, for a total value of $ 199,390.45. Following the closing of the sale, the Director now owns 11,895 shares of the company, valued at $ 900,094.65. Disclosure of this sale can be found here. Insiders have sold 13,854 shares of the company valued at $ 994,992 in the past three months. 1.04% of the shares are held by insiders.
A number of hedge funds have recently bought and sold shares in the company. Wasatch Advisors Inc. purchased a new stake in Boise Cascade during the first quarter valued at $ 20,011,000. Assetmark Inc. increased its holdings in Boise Cascade by 134,705.9% in the first quarter. Assetmark Inc. now owns 22,917 shares of the construction company valued at $ 1,371,000 after purchasing an additional 22,900 shares during the period. Janus Henderson Group PLC purchased a new position in Boise Cascade during the first quarter valued at approximately $ 1,031,000. Principal Financial Group Inc. increased its holdings in Boise Cascade by 2.5% in the first quarter. Principal Financial Group Inc. now owns 315,095 shares of the construction company valued at $ 18,852,000 after purchasing an additional 7,649 shares during the period. Finally, Premier Asset Management LLC increased its stake in Boise Cascade by 30.0% during the first quarter. Premier Asset Management LLC now owns 6,790 shares of the construction company valued at $ 407,000 after purchasing an additional 1,567 shares during the period. Hedge funds and other institutional investors hold 92.31% of the company’s shares.
About Boise Cascade
Boise Cascade Co is engaged in the manufacture and distribution of engineered wood (EWP) and plywood products. It operates through the Timber Products and Building Materials Distribution (BMD) segments. The Wood Products segment manufactures and sells engineered wood products, plywood, particle board, studs and ponderosa pine lumber.
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