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Why the Market Dipped But Blue Bird (BLBD) Gained Today
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Blue Bird (BLBD - Free Report) closed the latest trading day at $49.79, indicating a +0.4% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.51%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq decreased by 0.93%.
Prior to today's trading, shares of the school bus maker had lost 7.77% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 7.26% and the S&P 500's loss of 0.26% in that time.
The investment community will be closely monitoring the performance of Blue Bird in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. The company's earnings per share (EPS) are projected to be $0.50, reflecting a 13.64% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $330 million, indicating a 12.14% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.73 per share and revenue of $1.33 billion, indicating changes of +155.14% and +17.29%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Blue Bird. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Blue Bird possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Blue Bird has a Forward P/E ratio of 18.19 right now. Its industry sports an average Forward P/E of 11.34, so one might conclude that Blue Bird is trading at a premium comparatively.
We can also see that BLBD currently has a PEG ratio of 0.37. 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 average PEG ratio for the Automotive - Domestic industry stood at 1.23 at the close of the market yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% 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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Why the Market Dipped But Blue Bird (BLBD) Gained Today
Blue Bird (BLBD - Free Report) closed the latest trading day at $49.79, indicating a +0.4% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.51%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq decreased by 0.93%.
Prior to today's trading, shares of the school bus maker had lost 7.77% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 7.26% and the S&P 500's loss of 0.26% in that time.
The investment community will be closely monitoring the performance of Blue Bird in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. The company's earnings per share (EPS) are projected to be $0.50, reflecting a 13.64% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $330 million, indicating a 12.14% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.73 per share and revenue of $1.33 billion, indicating changes of +155.14% and +17.29%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Blue Bird. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Blue Bird possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Blue Bird has a Forward P/E ratio of 18.19 right now. Its industry sports an average Forward P/E of 11.34, so one might conclude that Blue Bird is trading at a premium comparatively.
We can also see that BLBD currently has a PEG ratio of 0.37. 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 average PEG ratio for the Automotive - Domestic industry stood at 1.23 at the close of the market yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% 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.