Boise Cascade (BCC) Gains As Market Dips: What You Should Know
Boise Cascade (BCC) closed the most recent trading day at $99, moving +0.51% from the previous trading session. This change outpaced the S&P 500's 0.1% loss on the day. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Heading into today, shares of the engineered wood products and plywood company had gained 24.01% over the past month, outpacing the Construction sector's gain of 8.28% and the S&P 500's gain of 3.39% in that time.
Investors will be hoping for strength from Boise Cascade as it approaches its next earnings release. 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%. Our most recent consensus estimate is calling for quarterly revenue of $1.62 billion, down 28.69% from the year-ago period.
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 should also note any recent changes to analyst estimates for Boise Cascade. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.08% higher. Boise Cascade is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Boise Cascade is holding a Forward P/E ratio of 11.03. This represents a discount compared to its industry's average Forward P/E of 25.43.
The Building Products - Wood industry is part of the Construction sector. This group has a Zacks Industry Rank of 38, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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
