In the latest close session, Blue Bird (BLBD) was up +1.22% at $45.64. This move outpaced the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.09%.
Prior to today's trading, shares of the school bus maker had gained 9.57% outpaced the Auto-Tires-Trucks sector's loss of 1.41% and the S&P 500's gain of 4.37%.
Market participants will be closely following the financial results of Blue Bird in its upcoming release. On that day, Blue Bird is projected to report earnings of $0.9 per share, which would represent a year-over-year decline of 1.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $375 million, up 12.49% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.74 per share and a revenue of $1.42 billion, representing changes of +8.09% and +5.61%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Blue Bird. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Blue Bird is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Blue Bird is holding a Forward P/E ratio of 12.05. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 12.05.
We can additionally observe that BLBD currently boasts a PEG ratio of 1.02. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Automotive - Domestic industry currently had an average PEG ratio of 1.22 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 206, finds itself in the bottom 17% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Blue Bird Corporation (BLBD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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