Why the Market Dipped But Boise Cascade (BCC) Gained Today
The most recent trading session ended with Boise Cascade (BCC) standing at $131.66, reflecting a +0.05% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.56%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq lost 0.59%.
The the stock of engineered wood products and plywood company has risen by 6.68% in the past month, leading the Construction sector's loss of 1.43% and the S&P 500's gain of 1.2%.
The upcoming earnings release of Boise Cascade will be of great interest to investors. The company is expected to report EPS of $2.44, down 17.29% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $1.59 billion, indicating a 2.61% decline compared to the corresponding quarter of the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Boise Cascade. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.84% higher within the past month. At present, Boise Cascade boasts a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Boise Cascade currently has a Forward P/E ratio of 11.86. This denotes a discount relative to the industry's average Forward P/E of 23.59.
The Building Products - Wood industry is part of the Construction sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 36% of all industries, numbering over 250.
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
