FY2024 EPS Estimate for Boise Cascade Decreased by Analyst

by · The Cerbat Gem

Boise Cascade (NYSE:BCC – Free Report) – DA Davidson cut their FY2024 earnings per share (EPS) estimates for Boise Cascade in a research note issued to investors on Wednesday, November 6th. DA Davidson analyst K. Yinger now expects that the construction company will earn $9.62 per share for the year, down from their prior estimate 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.

Other equities analysts have also recently issued reports about the company. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday. Loop Capital started coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. BMO Capital Markets increased their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Finally, Truist Financial lifted their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $139.60.

Read Our Latest Stock Report on BCC

Boise Cascade Stock Up 2.4 %

BCC opened at $141.76 on Thursday. The firm’s 50 day simple moving average is $136.25 and its two-hundred day simple moving average is $132.57. The company has a market capitalization of $5.60 billion, a PE ratio of 12.36 and a beta of 1.53. Boise Cascade has a 1-year low of $101.82 and a 1-year high of $154.67. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC – Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. Boise Cascade’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the company earned $3.58 EPS.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.59%. Boise Cascade’s dividend payout ratio is presently 7.32%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC lifted its holdings in shares of Boise Cascade by 4.6% in the third quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock worth $248,000 after buying an additional 78 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Boise Cascade by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock worth $927,000 after purchasing an additional 113 shares in the last quarter. Miller Howard Investments Inc. NY boosted its holdings in shares of Boise Cascade by 2.1% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock valued at $702,000 after purchasing an additional 124 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Boise Cascade by 7.3% during the third quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock valued at $267,000 after purchasing an additional 128 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Boise Cascade by 1.9% in the second quarter. Bank of Montreal Can now owns 7,456 shares of the construction company’s stock worth $890,000 after purchasing an additional 137 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Company Profile

(Get Free Report)

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.

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