Paccar (PCAR) Rises As Market Takes a Dip: Key Facts
In the latest market close, Paccar (PCAR) reached $114.08, with a +1.59% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 1.02%. Elsewhere, the Dow lost 1.04%, while the tech-heavy Nasdaq lost 1.65%.
The truck maker's shares have seen an increase of 7.81% over the last month, surpassing the Auto-Tires-Trucks sector's gain of 6.67% and the S&P 500's gain of 3.64%.
Market participants will be closely following the financial results of Paccar in its upcoming release. The company is predicted to post an EPS of $2.13, indicating a 5.33% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.07 billion, up 0.26% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.10 per share and revenue of $32.28 billion, indicating changes of -15.71% and -3.12%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Paccar. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.64% higher within the past month. Paccar is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at valuation, Paccar is presently trading at a Forward P/E ratio of 13.87. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 13.87.
We can also see that PCAR currently has a PEG ratio of 1.76. 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. PCAR's industry had an average PEG ratio of 1.76 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 71, placing it within the top 29% of over 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.
To follow PCAR in the coming trading sessions, be sure to utilize Zacks.com.
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PACCAR Inc. (PCAR) : Free Stock Analysis Report
