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Why Paccar (PCAR) Dipped More Than Broader Market Today
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Paccar (PCAR - Free Report) closed at $112.85 in the latest trading session, marking a -1.6% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 0.28%.
Coming into today, shares of the truck maker had lost 8.37% in the past month. In that same time, the Auto-Tires-Trucks sector lost 7.68%, while the S&P 500 lost 3.59%.
Market participants will be closely following the financial results of Paccar in its upcoming release. The company is forecasted to report an EPS of $1.13, showcasing a 22.6% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.34 billion, down 8.34% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.53 per share and a revenue of $27.29 billion, signifying shifts of +10.38% and +4.02%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Paccar. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. At present, Paccar boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Paccar is presently being traded at a Forward P/E ratio of 20.75. This signifies a premium in comparison to the average Forward P/E of 14.51 for its industry.
We can also see that PCAR currently has a PEG ratio of 0.96. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Automotive - Domestic industry stood at 0.96 at the close of the market yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 153, positioning it in the bottom 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why Paccar (PCAR) Dipped More Than Broader Market Today
Paccar (PCAR - Free Report) closed at $112.85 in the latest trading session, marking a -1.6% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 0.28%.
Coming into today, shares of the truck maker had lost 8.37% in the past month. In that same time, the Auto-Tires-Trucks sector lost 7.68%, while the S&P 500 lost 3.59%.
Market participants will be closely following the financial results of Paccar in its upcoming release. The company is forecasted to report an EPS of $1.13, showcasing a 22.6% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.34 billion, down 8.34% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.53 per share and a revenue of $27.29 billion, signifying shifts of +10.38% and +4.02%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Paccar. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. At present, Paccar boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Paccar is presently being traded at a Forward P/E ratio of 20.75. This signifies a premium in comparison to the average Forward P/E of 14.51 for its industry.
We can also see that PCAR currently has a PEG ratio of 0.96. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Automotive - Domestic industry stood at 0.96 at the close of the market yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 153, positioning it in the bottom 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.