In the latest close session, Blue Bird (BLBD) was up +1.32% at $57.51. The stock exceeded the S&P 500, which registered a gain of 0.33% for the day. Meanwhile, the Dow gained 1.08%, and the Nasdaq, a tech-heavy index, added 0.08%.
Coming into today, shares of the school bus maker had lost 7.95% in the past month. In that same time, the Auto-Tires-Trucks sector lost 1.42%, while the S&P 500 gained 1.41%.
Market participants will be closely following the financial results of Blue Bird in its upcoming release. The company's earnings per share (EPS) are projected to be $1.48, reflecting a 12.12% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $548.63 million, indicating a 34.02% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.89 per share and a revenue of $1.75 billion, indicating changes of +11.64% and +18.34%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Blue Bird. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 9.92% lower. Right now, Blue Bird possesses a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Blue Bird currently has a Forward P/E ratio of 12.91. This signifies a discount in comparison to the average Forward P/E of 15.72 for its industry.
It's also important to note that BLBD currently trades at a PEG ratio of 0.79. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Automotive - Domestic industry held an average PEG ratio of 0.97.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 99, positioning it in the top 41% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BLBD in the coming trading sessions, be sure to utilize Zacks.com.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant 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
Blue Bird Corporation (BLBD): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).