Boise Cascade (BCC) Gains As Market Dips: What You Should Know
In the latest trading session, Boise Cascade (BCC) closed at $98.96, marking a +0.35% move from the previous day. This move outpaced the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the engineered wood products and plywood company had gained 17.95% in the past month. In that same time, the Construction sector gained 7.6%, while the S&P 500 gained 5.14%.
Investors will be hoping for strength from Boise Cascade as it approaches its next earnings release, which is expected to be July 31, 2023. The company is expected to report EPS of $2.54, down 53.73% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.62 billion, down 28.69% from the prior-year quarter.
BCC's full-year Zacks Consensus Estimates are calling for earnings of $8.93 per share and revenue of $6.4 billion. These results would represent year-over-year changes of -58.58% and -23.72%, respectively.
Investors might also notice recent changes to analyst estimates for Boise Cascade. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.08% higher. Boise Cascade is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that Boise Cascade has a Forward P/E ratio of 11.04 right now. This represents a discount compared to its industry's average Forward P/E of 24.76.
The Building Products - Wood industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Boise Cascade, L.L.C. (BCC) : Free Stock Analysis Report
