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Paccar (PCAR) Exceeds Market Returns: Some Facts to Consider
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In the latest trading session, Paccar (PCAR - Free Report) closed at $95.70, marking a +0.61% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.13%. Elsewhere, the Dow saw an upswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.52%.
Shares of the truck maker witnessed a loss of 0.05% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its gain of 6.71% and the S&P 500's gain of 3.67%.
Analysts and investors alike will be keeping a close eye on the performance of Paccar in its upcoming earnings disclosure. The company's earnings report is set to go public on October 22, 2024. The company's upcoming EPS is projected at $1.82, signifying a 22.22% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $7.56 billion, indicating an 8.13% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.08 per share and a revenue of $31.84 billion, signifying shifts of -15.92% and -4.44%, respectively, from the last year.
Any recent changes to analyst estimates for Paccar should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. Currently, Paccar is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Paccar is presently being traded at a Forward P/E ratio of 11.78. This expresses a discount compared to the average Forward P/E of 13.33 of its industry.
It's also important to note that PCAR currently trades at a PEG ratio of 1.47. 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 1.42 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Paccar (PCAR) Exceeds Market Returns: Some Facts to Consider
In the latest trading session, Paccar (PCAR - Free Report) closed at $95.70, marking a +0.61% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.13%. Elsewhere, the Dow saw an upswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.52%.
Shares of the truck maker witnessed a loss of 0.05% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its gain of 6.71% and the S&P 500's gain of 3.67%.
Analysts and investors alike will be keeping a close eye on the performance of Paccar in its upcoming earnings disclosure. The company's earnings report is set to go public on October 22, 2024. The company's upcoming EPS is projected at $1.82, signifying a 22.22% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $7.56 billion, indicating an 8.13% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.08 per share and a revenue of $31.84 billion, signifying shifts of -15.92% and -4.44%, respectively, from the last year.
Any recent changes to analyst estimates for Paccar should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. Currently, Paccar is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Paccar is presently being traded at a Forward P/E ratio of 11.78. This expresses a discount compared to the average Forward P/E of 13.33 of its industry.
It's also important to note that PCAR currently trades at a PEG ratio of 1.47. 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 1.42 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.