Boise Cascade (NYSE:BCC) Plans $0.21 Quarterly Dividend

Boise Cascade (NYSE:BCC) declared a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Investors 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 yield of 0.57%. The ex-dividend date is Monday, December 2nd.

Boise Cascade has raised its dividend by an average of 20.5% annually over the last three years. Boise Cascade has a dividend payout ratio of 8.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Boise Cascade to earn $10.30 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 8.2%.

Boise Cascade Stock Up 0.9 %

Boise Cascade stock opened at $147.66 on Friday. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 14.45 and a beta of 1.53. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $140.24 and a two-hundred day moving average of $133.40. Boise Cascade has a twelve month low of $106.38 and a twelve month high of $155.42.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results 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 company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. Boise Cascade’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.58 earnings per share. As a group, research analysts expect that Boise Cascade will post 9.57 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Truist Financial boosted their target price on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital began coverage on Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. Finally, BMO Capital Markets increased their price objective on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. One research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $139.60.

Boise Cascade Company Profile

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.