Brokerages Expect Boise Cascade Co (BCC) to Post $0.81 Earnings Per Share

Wall Street brokerages predict that Boise Cascade Co (NYSE:BCC) will post $0.81 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Boise Cascade’s earnings, with the lowest EPS estimate coming in at $0.74 and the highest estimate coming in at $0.89. Boise Cascade also reported earnings of $0.81 per share in the same quarter last year. The company is expected to announce its next earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that Boise Cascade will report full year earnings of $3.20 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.30. For the next year, analysts expect that the company will report earnings of $2.95 per share, with EPS estimates ranging from $2.91 to $3.00. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Boise Cascade.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 6th. The construction company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.19. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.31 billion. Boise Cascade had a return on equity of 18.66% and a net margin of 2.64%. Boise Cascade’s revenue was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share.

BCC has been the topic of several research reports. ValuEngine lowered Boise Cascade from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Zacks Investment Research lowered Boise Cascade from a “strong-buy” rating to a “hold” rating in a report on Monday, July 9th. BMO Capital Markets reaffirmed a “hold” rating and set a $41.00 price objective on shares of Boise Cascade in a research note on Tuesday, July 17th. Bank of America decreased their price objective on Boise Cascade from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 7th. Finally, Vertical Research raised Boise Cascade from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Boise Cascade currently has an average rating of “Hold” and an average target price of $45.50.

In related news, EVP Daniel G. Hutchinson sold 13,671 shares of the stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $43.79, for a total transaction of $598,653.09. Following the transaction, the executive vice president now directly owns 43,223 shares in the company, valued at $1,892,735.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Wayne M. Rancourt sold 9,872 shares of the stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $44.85, for a total value of $442,759.20. Following the transaction, the chief financial officer now owns 86,421 shares in the company, valued at $3,875,981.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,472 shares of company stock worth $1,567,444. Corporate insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in Boise Cascade by 1.4% during the second quarter. Rhumbline Advisers now owns 93,484 shares of the construction company’s stock worth $4,179,000 after buying an additional 1,265 shares during the period. Victory Capital Management Inc. lifted its position in Boise Cascade by 15.9% during the second quarter. Victory Capital Management Inc. now owns 9,472 shares of the construction company’s stock worth $423,000 after buying an additional 1,301 shares during the period. United Services Automobile Association lifted its position in Boise Cascade by 18.7% during the second quarter. United Services Automobile Association now owns 8,557 shares of the construction company’s stock worth $383,000 after buying an additional 1,346 shares during the period. LSV Asset Management lifted its position in Boise Cascade by 1.2% during the second quarter. LSV Asset Management now owns 198,200 shares of the construction company’s stock worth $8,859,000 after buying an additional 2,400 shares during the period. Finally, Point72 Asia Hong Kong Ltd purchased a new position in Boise Cascade during the first quarter worth about $102,000. Hedge funds and other institutional investors own 94.11% of the company’s stock.

Boise Cascade stock opened at $32.05 on Tuesday. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.92 and a beta of 1.88. Boise Cascade has a fifty-two week low of $31.73 and a fifty-two week high of $49.30.

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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