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Paccar (PCAR) Dips More Than Broader Markets: What You Should Know
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Paccar (PCAR - Free Report) closed the most recent trading day at $83.86, moving -1.87% from the previous trading session. This move lagged the S&P 500's daily loss of 1.47%. Meanwhile, the Dow lost 1.14%, and the Nasdaq, a tech-heavy index, lost 1.57%.
Prior to today's trading, shares of the truck maker had gained 0.33% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 2.85% and outpaced the S&P 500's loss of 1.43% in that time.
Wall Street will be looking for positivity from Paccar as it approaches its next earnings report date. This is expected to be October 24, 2023. On that day, Paccar is projected to report earnings of $2.07 per share, which would represent year-over-year growth of 40.82%. Our most recent consensus estimate is calling for quarterly revenue of $7.98 billion, up 19.32% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.52 per share and revenue of $32.55 billion. These totals would mark changes of +48.17% and +19.18%, respectively, from last year.
Any recent changes to analyst estimates for Paccar should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.31% lower. Paccar is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Paccar currently has a Forward P/E ratio of 10.04. This represents a discount compared to its industry's average Forward P/E of 10.06.
We can also see that PCAR currently has a PEG ratio of 1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PCAR's industry had an average PEG ratio of 1.25 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 106, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Paccar (PCAR) Dips More Than Broader Markets: What You Should Know
Paccar (PCAR - Free Report) closed the most recent trading day at $83.86, moving -1.87% from the previous trading session. This move lagged the S&P 500's daily loss of 1.47%. Meanwhile, the Dow lost 1.14%, and the Nasdaq, a tech-heavy index, lost 1.57%.
Prior to today's trading, shares of the truck maker had gained 0.33% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 2.85% and outpaced the S&P 500's loss of 1.43% in that time.
Wall Street will be looking for positivity from Paccar as it approaches its next earnings report date. This is expected to be October 24, 2023. On that day, Paccar is projected to report earnings of $2.07 per share, which would represent year-over-year growth of 40.82%. Our most recent consensus estimate is calling for quarterly revenue of $7.98 billion, up 19.32% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.52 per share and revenue of $32.55 billion. These totals would mark changes of +48.17% and +19.18%, respectively, from last year.
Any recent changes to analyst estimates for Paccar should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.31% lower. Paccar is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Paccar currently has a Forward P/E ratio of 10.04. This represents a discount compared to its industry's average Forward P/E of 10.06.
We can also see that PCAR currently has a PEG ratio of 1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PCAR's industry had an average PEG ratio of 1.25 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 106, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.