Boise Cascade Co (BCC) Expected to Post Quarterly Sales of $1.11 Billion

Wall Street brokerages expect that Boise Cascade Co (NYSE:BCC) will post $1.11 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Boise Cascade’s earnings. Boise Cascade posted sales of $1.18 billion during the same quarter last year, which would indicate a negative year over year growth rate of 5.9%. The company is expected to announce its next earnings results on Friday, May 3rd.

On average, analysts expect that Boise Cascade will report full year sales of $4.91 billion for the current financial year, with estimates ranging from $4.89 billion to $4.93 billion. For the next year, analysts anticipate that the business will report sales of $5.10 billion, with estimates ranging from $5.02 billion to $5.17 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Boise Cascade.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Tuesday, February 26th. The construction company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.01) by ($1.84). Boise Cascade had a net margin of 0.41% and a return on equity of 14.93%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $0.49 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis.

A number of brokerages recently commented on BCC. ValuEngine raised shares of Boise Cascade from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 5th. DA Davidson raised shares of Boise Cascade from a “neutral” rating to a “buy” rating and increased their price target for the company from $35.00 to $37.00 in a report on Wednesday, February 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $32.00 price target on shares of Boise Cascade in a report on Wednesday, January 30th. Zacks Investment Research raised shares of Boise Cascade from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Finally, TheStreet downgraded shares of Boise Cascade from a “b-” rating to a “c+” rating in a report on Wednesday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $41.75.

Shares of NYSE:BCC opened at $26.76 on Friday. The company has a quick ratio of 1.22, a current ratio of 2.67 and a debt-to-equity ratio of 0.65. Boise Cascade has a 12 month low of $22.00 and a 12 month high of $49.30. The stock has a market capitalization of $1.02 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 2.11 and a beta of 1.96.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Thursday, February 28th. Boise Cascade’s payout ratio is 15.72%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in Boise Cascade by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 437,399 shares of the construction company’s stock worth $10,431,000 after purchasing an additional 23,864 shares during the last quarter. Norges Bank bought a new stake in Boise Cascade in the fourth quarter worth about $20,938,000. APG Asset Management N.V. lifted its stake in Boise Cascade by 106.2% in the fourth quarter. APG Asset Management N.V. now owns 73,600 shares of the construction company’s stock worth $1,536,000 after purchasing an additional 37,900 shares during the last quarter. Millennium Management LLC lifted its stake in Boise Cascade by 69.9% in the fourth quarter. Millennium Management LLC now owns 457,602 shares of the construction company’s stock worth $10,914,000 after purchasing an additional 188,345 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in Boise Cascade by 4.4% in the fourth quarter. Macquarie Group Ltd. now owns 1,667,171 shares of the construction company’s stock worth $39,762,000 after purchasing an additional 70,900 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Company Profile

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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