Boise Cascade (BCC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Boise Cascade (BCC) closed at $102.22, marking a -0.8% move from the previous day. This move lagged the S&P 500's daily gain of 0.01%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 0.67%.
Prior to today's trading, shares of the engineered wood products and plywood company had lost 7.18% over the past month. This has lagged the Construction sector's loss of 6.73% and the S&P 500's loss of 4.45% in that time.
Investors will be hoping for strength from Boise Cascade as it approaches its next earnings release. In that report, analysts expect Boise Cascade to post earnings of $3.44 per share. This would mark a year-over-year decline of 37.68%. Meanwhile, our latest consensus estimate is calling for revenue of $1.85 billion, down 14.24% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.75 per share and revenue of $6.7 billion. These totals would mark changes of -45.5% and -20.08%, respectively, from last 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Boise Cascade currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Boise Cascade's current valuation metrics, including its Forward P/E ratio of 8.77. This valuation marks a discount compared to its industry's average Forward P/E of 16.21.
The Building Products - Wood industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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
