In the latest trading session, Boise Cascade (BCC) closed at $76.81, marking a +0.92% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq gained 3.77%.
Heading into today, shares of the engineered wood products and plywood company had gained 9.51% over the past month, outpacing the Construction sector's gain of 4.61% and the S&P 500's gain of 3.54% in that time.
Wall Street will be looking for positivity from Boise Cascade as it approaches its next earnings report date. This is expected to be February 21, 2023. In that report, analysts expect Boise Cascade to post earnings of $2.97 per share. This would mark a year-over-year decline of 30.28%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.82 billion, up 2.28% from the year-ago period.
Any recent changes to analyst estimates for Boise Cascade should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Boise Cascade currently has a Forward P/E ratio of 8.72. This valuation marks a discount compared to its industry's average Forward P/E of 23.19.
The Building Products - Wood industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 235, which puts it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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