Boise Cascade (BCC) Rises As Market Takes a Dip: Key Facts
Boise Cascade (BCC) closed at $90.81 in the latest trading session, marking a +1.33% move from the prior day. This change outpaced the S&P 500's 1.18% loss on the day. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 1.76%.
Shares of the engineered wood products and plywood company have depreciated by 13.5% over the course of the past month, underperforming the Construction sector's loss of 7.43% and the S&P 500's loss of 3.35%.
The investment community will be closely monitoring the performance of Boise Cascade in its forthcoming earnings report. The company is scheduled to release its earnings on October 30, 2023. The company is expected to report EPS of $3.47, down 37.14% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.85 billion, indicating a 14.24% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.80 per share and a revenue of $6.7 billion, representing changes of -45.27% and -20.08%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Boise Cascade. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 0.43% upward. Currently, Boise Cascade is carrying a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Boise Cascade is currently exchanging hands at a Forward P/E ratio of 7.59. This represents a discount compared to its industry's average Forward P/E of 16.02.
The Building Products - Wood industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 212, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
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
