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Paccar (PCAR) Stock Sinks As Market Gains: What You Should Know
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Paccar (PCAR - Free Report) closed at $84.76 in the latest trading session, marking a -0.31% move from the prior day. This change lagged the S&P 500's daily gain of 0.01%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 0.67%.
Heading into today, shares of the truck maker had gained 1.8% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 1.52% and the S&P 500's loss of 4.45% in that time.
Investors will be hoping for strength from Paccar as it approaches its next earnings release, which is expected to be October 24, 2023. On that day, Paccar is projected to report earnings of $2.06 per share, which would represent year-over-year growth of 40.14%. Our most recent consensus estimate is calling for quarterly revenue of $7.98 billion, up 19.32% from the year-ago period.
PCAR's full-year Zacks Consensus Estimates are calling for earnings of $8.52 per share and revenue of $32.56 billion. These results would represent year-over-year changes of +48.17% and +19.19%, respectively.
It is also important to note the recent changes to analyst estimates for Paccar. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 0.23% lower within the past month. Paccar currently has a Zacks Rank of #3 (Hold).
Investors should also note Paccar's current valuation metrics, including its Forward P/E ratio of 9.98. This valuation marks a discount compared to its industry's average Forward P/E of 10.01.
Meanwhile, PCAR's PEG ratio is currently 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. The Automotive - Domestic was holding an average PEG ratio of 1.26 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% 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) Stock Sinks As Market Gains: What You Should Know
Paccar (PCAR - Free Report) closed at $84.76 in the latest trading session, marking a -0.31% move from the prior day. This change lagged the S&P 500's daily gain of 0.01%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 0.67%.
Heading into today, shares of the truck maker had gained 1.8% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 1.52% and the S&P 500's loss of 4.45% in that time.
Investors will be hoping for strength from Paccar as it approaches its next earnings release, which is expected to be October 24, 2023. On that day, Paccar is projected to report earnings of $2.06 per share, which would represent year-over-year growth of 40.14%. Our most recent consensus estimate is calling for quarterly revenue of $7.98 billion, up 19.32% from the year-ago period.
PCAR's full-year Zacks Consensus Estimates are calling for earnings of $8.52 per share and revenue of $32.56 billion. These results would represent year-over-year changes of +48.17% and +19.19%, respectively.
It is also important to note the recent changes to analyst estimates for Paccar. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 0.23% lower within the past month. Paccar currently has a Zacks Rank of #3 (Hold).
Investors should also note Paccar's current valuation metrics, including its Forward P/E ratio of 9.98. This valuation marks a discount compared to its industry's average Forward P/E of 10.01.
Meanwhile, PCAR's PEG ratio is currently 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. The Automotive - Domestic was holding an average PEG ratio of 1.26 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% 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.