Yahoo Finance Paccar (PCAR) Stock Sinks As Market Gains: What You Should Know
Paccar (PCAR) closed the most recent trading day at $89.01, moving -0.46% from the previous trading session. This change lagged the S&P 500's daily gain of 0.24%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq lost 7.84%.
Prior to today's trading, shares of the truck maker had gained 14.98% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 23.93% and outpaced the S&P 500's gain of 3.39% 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 July 25, 2023. On that day, Paccar is projected to report earnings of $2.11 per share, which would represent year-over-year growth of 52.9%. Meanwhile, our latest consensus estimate is calling for revenue of $7.95 billion, up 17.2% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.84 per share and revenue of $31.59 billion, which would represent changes of +36.35% and +15.64%, respectively, from the prior year.
Any recent changes to analyst estimates for Paccar should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.1% higher. Paccar is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Paccar currently has a Forward P/E ratio of 11.41. This valuation marks a discount compared to its industry's average Forward P/E of 12.19.
It is also worth noting that PCAR currently has a PEG ratio of 1.14. 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. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.37 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 38, which puts it in the top 16% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
PACCAR Inc. (PCAR) : Free Stock Analysis Report
