Boise Cascade (BCC) Advances While Market Declines: Some Information for Investors
In the latest trading session, Boise Cascade (BCC) closed at $141.86, marking a +0.92% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.1%. On the other hand, the Dow registered a gain of 0.33%, and the technology-centric Nasdaq decreased by 0.3%.
Coming into today, shares of the engineered wood products and plywood company had gained 6.24% in the past month. In that same time, the Construction sector gained 5.15%, while the S&P 500 gained 5.78%.
The investment community will be paying close attention to the earnings performance of Boise Cascade in its upcoming release. The company is slated to reveal its earnings on February 20, 2024. The company is predicted to post an EPS of $2.45, indicating a 16.95% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.59 billion, indicating a 2.61% decrease compared to the same quarter of the previous year.
Any recent changes to analyst estimates for Boise Cascade should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.67% upward. Boise Cascade is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Boise Cascade is holding a Forward P/E ratio of 12.34. Its industry sports an average Forward P/E of 25.25, so one might conclude that Boise Cascade is trading at a discount comparatively.
The Building Products - Wood industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Boise Cascade, L.L.C. (BCC) : Free Stock Analysis Report
