Boise Cascade (BCC) Stock Moves -0.04%: What You Should Know
Boise Cascade (BCC) ended the recent trading session at $91.12, demonstrating a -0.04% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.58%, and the technology-centric Nasdaq increased by 0.27%.
Heading into today, shares of the engineered wood products and plywood company had lost 8.63% over the past month, lagging the Construction sector's loss of 7.93% and the S&P 500's loss of 3.95% in that time.
Investors will be eagerly watching for the performance of Boise Cascade in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 31, 2023. The company's upcoming EPS is projected at $3.47, signifying a 37.14% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.85 billion, down 14.24% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.80 per share and a revenue of $6.7 billion, indicating changes of -45.27% and -20.08%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Boise Cascade. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.43% higher. As of now, Boise Cascade holds a Zacks Rank of #2 (Buy).
Looking at valuation, Boise Cascade is presently trading at a Forward P/E ratio of 7.72. For comparison, its industry has an average Forward P/E of 16.71, 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 bearing a Zacks Industry Rank of 191, finds itself in the bottom 25% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Boise Cascade, L.L.C. (BCC) : Free Stock Analysis Report
