Boise Cascade (BCC) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Boise Cascade (BCC) closed at $99.31, marking a -1.77% move from the previous day. This move lagged the S&P 500's daily loss of 0.68%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, lost 3.19%.
Coming into today, shares of the engineered wood products and plywood company had gained 24.08% in the past month. In that same time, the Construction sector gained 8.04%, while the S&P 500 gained 3.58%.
Wall Street will be looking for positivity from Boise Cascade as it approaches its next earnings report date. This is expected to be July 31, 2023. On that day, Boise Cascade is projected to report earnings of $2.54 per share, which would represent a year-over-year decline of 53.73%. Meanwhile, our latest consensus estimate is calling for revenue of $1.62 billion, down 28.69% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.93 per share and revenue of $6.4 billion, which would represent changes of -58.58% and -23.72%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Boise Cascade. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.08% higher within the past month. Boise Cascade is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Boise Cascade is holding a Forward P/E ratio of 11.32. For comparison, its industry has an average Forward P/E of 25.11, which means Boise Cascade is trading at a discount to the group.
The Building Products - Wood industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BCC in the coming trading sessions, be sure to utilize Zacks.com.
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Boise Cascade, L.L.C. (BCC) : Free Stock Analysis Report
