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Paccar (PCAR) Increases Despite Market Slip: Here's What You Need to Know
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The latest trading session saw Paccar (PCAR - Free Report) ending at $109.21, denoting a +0.29% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 1.39%. Meanwhile, the Dow gained 0.6%, and the Nasdaq, a tech-heavy index, lost 2.77%.
Prior to today's trading, shares of the truck maker had gained 1.1% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 22.9% and the S&P 500's gain of 4.43% in that time.
The upcoming earnings release of Paccar will be of great interest to investors. The company's earnings report is expected on July 23, 2024. The company is expected to report EPS of $2.14, down 8.15% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $8.33 billion, indicating a 1.29% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.35 per share and a revenue of $32.35 billion, representing changes of -13.11% and -2.89%, respectively, from the prior year.
Any recent changes to analyst estimates for Paccar should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.14% fall in the Zacks Consensus EPS estimate. Paccar is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Paccar is holding a Forward P/E ratio of 13.04. This valuation marks a premium compared to its industry's average Forward P/E of 12.08.
Meanwhile, PCAR's PEG ratio is currently 1.3. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Automotive - Domestic industry currently 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 187, putting it in the bottom 26% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Paccar (PCAR) Increases Despite Market Slip: Here's What You Need to Know
The latest trading session saw Paccar (PCAR - Free Report) ending at $109.21, denoting a +0.29% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 1.39%. Meanwhile, the Dow gained 0.6%, and the Nasdaq, a tech-heavy index, lost 2.77%.
Prior to today's trading, shares of the truck maker had gained 1.1% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 22.9% and the S&P 500's gain of 4.43% in that time.
The upcoming earnings release of Paccar will be of great interest to investors. The company's earnings report is expected on July 23, 2024. The company is expected to report EPS of $2.14, down 8.15% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $8.33 billion, indicating a 1.29% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.35 per share and a revenue of $32.35 billion, representing changes of -13.11% and -2.89%, respectively, from the prior year.
Any recent changes to analyst estimates for Paccar should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.14% fall in the Zacks Consensus EPS estimate. Paccar is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Paccar is holding a Forward P/E ratio of 13.04. This valuation marks a premium compared to its industry's average Forward P/E of 12.08.
Meanwhile, PCAR's PEG ratio is currently 1.3. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Automotive - Domestic industry currently 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 187, putting it in the bottom 26% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.