Boise Cascade, L.L.C. (NYSE:BCC) to Issue Dividend Increase – $0.23 Per Share

Boise Cascade, L.L.C. (NYSE:BCC) declared a quarterly dividend on Thursday, July 30th. Stockholders of record on Tuesday, September 1st will be given a dividend of 0.23 per share by the construction company on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 1st. This is a 4.5% increase from Boise Cascade’s previous quarterly dividend of $0.22.

Boise Cascade has decreased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 6 years. Boise Cascade has a dividend payout ratio of 10.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Boise Cascade to earn $5.53 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 15.9%.

Boise Cascade Price Performance

Shares of BCC stock opened at $75.45 on Friday. The business’s fifty day moving average is $73.58 and its 200 day moving average is $76.97. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 1.07 and a beta of 1.08. Boise Cascade has a twelve month low of $65.00 and a twelve month high of $91.97.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 EPS. Research analysts expect that Boise Cascade will post 3.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Zacks Research upgraded Boise Cascade from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Bank of America upped their price target on shares of Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Truist Financial set a $97.00 price target on shares of Boise Cascade in a research report on Wednesday, May 6th. Finally, DA Davidson lowered their price objective on Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.80.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.