Blue Bird (BLBD) closed the most recent trading day at $49.98, moving -3.51% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.99%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, lost 1.58%.
Prior to today's trading, shares of the school bus maker had lost 6.68% lagged the Auto-Tires-Trucks sector's gain of 4.01% and the S&P 500's gain of 3.59%.
Market participants will be closely following the financial results of Blue Bird in its upcoming release. It is anticipated that the company will report an EPS of $0.97, marking a 25.97% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $380 million, indicating a 8.51% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.04 per share and a revenue of $1.45 billion, representing changes of +16.76% and 0%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Blue Bird. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Blue Bird presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Blue Bird has a Forward P/E ratio of 12.47 right now. This signifies no noticeable deviation in comparison to the average Forward P/E of 12.47 for its industry.
We can additionally observe that BLBD currently boasts a PEG ratio of 1.36. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Automotive - Domestic industry stood at 2.7 at the close of the market yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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