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Here's Why Paccar (PCAR) Fell More Than Broader Market
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In the latest trading session, Paccar (PCAR - Free Report) closed at $83.65, marking a -1.58% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 1.34%. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 1.62%.
The the stock of truck maker has fallen by 0.21% in the past month, leading the Auto-Tires-Trucks sector's loss of 4.5% and the S&P 500's loss of 1.57%.
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 October 24, 2023. The company's earnings per share (EPS) are projected to be $2.06, reflecting a 40.14% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $7.98 billion, indicating a 19.32% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.56 per share and a revenue of $32.56 billion, indicating changes of +48.87% and +19.19%, respectively, from the former 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 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. The Zacks Consensus EPS estimate has moved 0.16% higher within the past month. Paccar is holding a Zacks Rank of #2 (Buy) right now.
Looking at valuation, Paccar is presently trading at a Forward P/E ratio of 9.93. This represents a premium compared to its industry's average Forward P/E of 9.76.
It is also worth noting that PCAR currently has a PEG ratio of 0.99. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Automotive - Domestic industry had an average PEG ratio of 1.2.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Here's Why Paccar (PCAR) Fell More Than Broader Market
In the latest trading session, Paccar (PCAR - Free Report) closed at $83.65, marking a -1.58% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 1.34%. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 1.62%.
The the stock of truck maker has fallen by 0.21% in the past month, leading the Auto-Tires-Trucks sector's loss of 4.5% and the S&P 500's loss of 1.57%.
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 October 24, 2023. The company's earnings per share (EPS) are projected to be $2.06, reflecting a 40.14% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $7.98 billion, indicating a 19.32% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.56 per share and a revenue of $32.56 billion, indicating changes of +48.87% and +19.19%, respectively, from the former 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 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. The Zacks Consensus EPS estimate has moved 0.16% higher within the past month. Paccar is holding a Zacks Rank of #2 (Buy) right now.
Looking at valuation, Paccar is presently trading at a Forward P/E ratio of 9.93. This represents a premium compared to its industry's average Forward P/E of 9.76.
It is also worth noting that PCAR currently has a PEG ratio of 0.99. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Automotive - Domestic industry had an average PEG ratio of 1.2.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.