Shares of truck manufacturer Paccar (NASDAQ:PCAR) closed at $84.76 per piece in the latest trading session, marking a slight decrease of 0.31% from the previous day. This change trailed the S&P 500's marginal gain of 0.01%, while the Dow Jones Industrial Average dipped by 0.22% and the Nasdaq Composite Index rose by 0.67%.
Paccar has seen its shares rally by 1.5% over the past month, outperforming both the Auto-Tires-Trucks sector, which lost 1.52%, and the S&P 500, which declined by 4.45% in the same period. The company's robust performance can be attributed to its consistent revenue growth, which according to InvestingPro data, has accelerated by 27.8% in the last twelve months (LTM2023.Q2).
Investors are now looking towards Paccar's next earnings release scheduled for October 24, 2023. The company is expected to report earnings of $2.06 per share, indicating a year-over-year growth rate of 40.14%. Consensus estimates suggest quarterly revenue of $7.98 billion, reflecting a growth of 19.32% from the year-ago period.
Recent changes to analyst estimates for Paccar have also drawn attention as they often reflect short-term business trends. Positive estimate revisions are generally seen as an indication of optimism about a company's business outlook.
Investors should also consider Paccar's current valuation metrics. The company's Forward P/E ratio stands at 9.98, which is slightly lower than its industry's average Forward P/E of 10.01, indicating a relative discount.
Paccar's strength is further emphasized by another InvestingPro Tip, which reveals that the company has maintained dividend payments for an impressive 53 consecutive years. This is supported by InvestingPro's data showing a dividend yield of 3.48% (Y2023.D276). These insights are part of many additional tips available on InvestingPro's platform, providing valuable guidance for investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.