Boise Cascade Declares Quarterly Dividend of $0.21 (NYSE:BCC)

Boise Cascade (NYSE:BCC) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.21 per share by the construction company on Wednesday, December 18th. This represents a $0.84 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Monday, December 2nd.

Boise Cascade has increased its dividend payment by an average of 20.5% annually over the last three years. Boise Cascade has a dividend payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Boise Cascade to earn $10.50 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 8.0%.

Boise Cascade Price Performance

Shares of NYSE BCC traded up $3.62 during trading hours on Friday, hitting $136.65. 23,984 shares of the stock were exchanged, compared to its average volume of 306,982. The company’s fifty day simple moving average is $136.11 and its two-hundred day simple moving average is $132.66. The company has a market cap of $5.39 billion, a PE ratio of 11.61 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. Boise Cascade has a 1-year low of $99.11 and a 1-year high of $154.67.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company posted $3.67 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Boise Cascade will post 9.69 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Bank of America upped their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. BMO Capital Markets upped their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Loop Capital assumed coverage on Boise Cascade in a research note on Friday. They set a “buy” rating and a $155.00 price target on the stock. Finally, StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade has a consensus rating of “Hold” and an average price target of $139.60.

About Boise Cascade

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.