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Paccar (PCAR) Gains But Lags Market: What You Should Know
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Paccar (PCAR - Free Report) closed the most recent trading day at $86.23, moving +0.12% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Coming into today, shares of the truck maker had gained 8.37% in the past month. In that same time, the Auto-Tires-Trucks sector gained 25.05%, while the S&P 500 gained 3.34%.
Paccar will be looking to display strength as it nears its next earnings release, which is expected to be July 25, 2023. In that report, analysts expect Paccar to post earnings of $2.11 per share. This would mark year-over-year growth of 52.9%. Meanwhile, our latest consensus estimate is calling for revenue of $7.95 billion, up 17.12% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.84 per share and revenue of $31.58 billion, which would represent changes of +36.35% and +15.61%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Paccar. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.1% higher within the past month. Paccar is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Paccar is holding a Forward P/E ratio of 10.99. Its industry sports an average Forward P/E of 11.82, so we one might conclude that Paccar is trading at a discount comparatively.
It is also worth noting that PCAR currently has a PEG ratio of 1.1. 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. PCAR's industry had an average PEG ratio of 1.4 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Paccar (PCAR) Gains But Lags Market: What You Should Know
Paccar (PCAR - Free Report) closed the most recent trading day at $86.23, moving +0.12% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Coming into today, shares of the truck maker had gained 8.37% in the past month. In that same time, the Auto-Tires-Trucks sector gained 25.05%, while the S&P 500 gained 3.34%.
Paccar will be looking to display strength as it nears its next earnings release, which is expected to be July 25, 2023. In that report, analysts expect Paccar to post earnings of $2.11 per share. This would mark year-over-year growth of 52.9%. Meanwhile, our latest consensus estimate is calling for revenue of $7.95 billion, up 17.12% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.84 per share and revenue of $31.58 billion, which would represent changes of +36.35% and +15.61%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Paccar. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.1% higher within the past month. Paccar is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Paccar is holding a Forward P/E ratio of 10.99. Its industry sports an average Forward P/E of 11.82, so we one might conclude that Paccar is trading at a discount comparatively.
It is also worth noting that PCAR currently has a PEG ratio of 1.1. 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. PCAR's industry had an average PEG ratio of 1.4 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.