Yahoo Finance Paccar (PCAR) Falls More Steeply Than Broader Market: What Investors Need to Know
Paccar (PCAR) closed at $102.94 in the latest trading session, marking a -0.99% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.41% for the day. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq lost 0.71%.
The truck maker's stock has dropped by 1.68% in the past month, falling short of the Auto-Tires-Trucks sector's gain of 2.27% and the S&P 500's gain of 3.53%.
The investment community will be closely monitoring the performance of Paccar in its forthcoming earnings report. The company is scheduled to release its earnings on July 23, 2024. In that report, analysts expect Paccar to post earnings of $2.14 per share. This would mark a year-over-year decline of 8.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.32 billion, down 1.49% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.36 per share and revenue of $32.46 billion, which would represent changes of -13.01% and -2.58%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Paccar. Such recent modifications usually signify the changing landscape of near-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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.25% increase. As of now, Paccar holds a Zacks Rank of #3 (Hold).
Digging into valuation, Paccar currently has a Forward P/E ratio of 12.43. This signifies no noticeable deviation in comparison to the average Forward P/E of 12.43 for its industry.
We can additionally observe that PCAR currently boasts a PEG ratio of 1.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Automotive - Domestic industry currently had an average PEG ratio of 1.34 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 46, placing it within the top 19% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.
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PACCAR Inc. (PCAR): Free Stock Analysis Report
