Yahoo Finance Paccar (PCAR) Stock Sinks As Market Gains: Here's Why
In the latest market close, Paccar (PCAR) reached $111.96, with a -0.59% movement compared to the previous day. This move lagged the S&P 500's daily gain of 1.02%. On the other hand, the Dow registered a gain of 0.4%, and the technology-centric Nasdaq increased by 2.03%.
Shares of the truck maker have depreciated by 9.1% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 6.37% and the S&P 500's loss of 3.15%.
Investors will be eagerly watching for the performance of Paccar in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. The company's earnings per share (EPS) are projected to be $2.17, reflecting a 3.56% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $8.08 billion, showing a 0.41% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.21 per share and a revenue of $32.39 billion, representing changes of -14.57% and -2.78%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Paccar. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, the Zacks Consensus EPS estimate has shifted 0.94% upward. Currently, Paccar is carrying a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Paccar is currently exchanging hands at a Forward P/E ratio of 13.72. This signifies no noticeable deviation in comparison to the average Forward P/E of 13.72 for its industry.
We can also see that PCAR currently has a PEG ratio of 1.69. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Automotive - Domestic was holding an average PEG ratio of 1.93 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% 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.
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
