PACCAR Inc. ($PCAR) Stock Forecast: Up 5.2% Today

What is PACCAR Inc.?

PACCAR (PCAR) is a leading American manufacturer of medium and heavy-duty trucks. The company designs, manufactures, and distributes commercial vehicles under the brands Kenworth, Peterbilt, and DAF.

Why is PACCAR Inc. going up?

PCAR stock is up 5.2% on Oct 23, 2024 16:15

• PCAR had a strong bullish movement today despite reporting a decline in revenues year-over-year.
• The company beat earnings expectations for Q3, with earnings per share and sales surpassing analyst estimates.
• Despite the positive earnings beat, lower deliveries and a decline in net income compared to the same period last year caused the stock to dip initially.
• Investors may have been encouraged by the company's optimistic outlook on capital expenditures and research & development expenses for 2024, which could signal potential future growth and innovation.

PCAR Price Chart

PCAR Technical Analysis

PCAR News

PACCAR Q3 Earnings Beat Expectations, Revenues Decline Y/Y

PCAR reports better-than-expected Q3 earnings and expects capex and R&D expenses for 2024 in the band of $760-$800 million and $450-$470 million, respectively.

https://www.zacks.com/stock/news/2355226/paccar-q3-earnings-beat-expectations-revenues-decline-yy

PACCAR Q3 Earnings Beat Estimates, Stock Dips Amid Lower Deliveries - PACCAR ( NASDAQ:PCAR )

The company reported third-quarter earnings per share of $1.85, beating the street view of $1.82. Quarterly sales of $7.70 billion, beating the analyst consensus estimate of $7.65 billion. PACCAR achieved net income of $972.1 million, compared to $1.23 billion in the same period last year.

https://www.benzinga.com/news/earnings/24/10/41457068/paccar-q3-earnings-beat-estimates-stock-dips-amid-lower-deliveries

Paccar ( PCAR ) Q3 Earnings and Revenues Top Estimates

Paccar (PCAR) delivered earnings and revenue surprises of 1.65% and 1.80%, respectively, for the quarter ended September 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2354730/paccar-pcar-q3-earnings-and-revenues-top-estimates

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PACCAR Inc. Price History

29.07.2023 - PCAR Stock was down 4.4%

• The stock had a strong bearish movement today, possibly due to the negative market sentiment surrounding the company.
• The article mentioning Paccar's short percent of float falling could indicate a decrease in investor confidence, contributing to the bearish movement.
• The lack of positive news or earnings estimates in the articles could have also influenced the bearish market movement.
• Overall, the combination of negative market sentiment, a decrease in short percent of float, and lack of positive news may have contributed to the bearish movement of PCAR.

09.03.2024 - PCAR Stock was down 2.9%

• PCAR stock witnessed a notable decrease in value today.
• Despite a general market downturn, Paccar's stock showed a substantial drop.
• The 16.67% rise in Paccar's short interest is potentially linked to the stock's decline.
• The negative sentiment surrounding PCAR could be attributed to traders engaging in short selling and the increased short percent of float, influencing the bearish movement.

29.05.2023 - PCAR Stock was up 3.4%

• Today, PACCAR (PCAR) experienced a strong bullish movement. Here's what might have caused the market movement:
• Positive market sentiment: PACCAR's stock outpaced the overall stock market gains, indicating a positive sentiment among investors.
• Strong historical performance: Over the past 20 years, PACCAR has consistently outperformed the market, with an average annual return of 9.22%. This track record may have attracted investors to the stock.
• Market capitalization: PACCAR currently has a market capitalization of $40.75 billion, indicating its significance in the market. This may have contributed to the bullish movement as investors recognized the company's value.
• Overall, PACCAR's strong bullish movement today can be attributed to positive market sentiment, its strong historical performance, and its significant market capitalization.

22.09.2024 - PCAR Stock was down 5.8%

• The bearish movement in PCAR stock today could be attributed to analysts' estimates of a decline in earnings for the upcoming period.
• The lack of the right combination of key ingredients for a likely positive financial outcome might have disappointed investors and led to a sell-off of the stock.
• Investors may be cautious about the company's financial performance, leading to a negative sentiment in the market and a downward pressure on the stock price.

22.09.2024 - PCAR Stock was down 8.3%

• Despite PACCAR reporting third-quarter earnings that beat estimates, the stock experienced a bearish movement.
• The lower deliveries could have contributed to the stock's dip, indicating potential concerns about the company's future growth prospects.
• Investors might be focusing more on the decrease in net income compared to the same period last year, leading to a negative sentiment towards the stock.
• The market reaction suggests that even though PACCAR's financial performance was strong, other factors such as delivery numbers and future outlook are influencing investor behavior and causing the bearish movement in the stock.

23.09.2024 - PCAR Stock was up 5.2%

• PCAR had a strong bullish movement today despite reporting a decline in revenues year-over-year.
• The company beat earnings expectations for Q3, with earnings per share and sales surpassing analyst estimates.
• Despite the positive earnings beat, lower deliveries and a decline in net income compared to the same period last year caused the stock to dip initially.
• Investors may have been encouraged by the company's optimistic outlook on capital expenditures and research & development expenses for 2024, which could signal potential future growth and innovation.

01.06.2024 - PCAR Stock was down 2.2%

• PCAR stock showed a notable bearish trend today, which stood in contrast to the general market direction.
• A rating downgrade from buy to hold could have impacted investor confidence and played a part in the decrease in PCAR stock price.
• Despite the overall market decline, PCAR had recently demonstrated positive momentum, suggesting that the bearish movement observed today may be a temporary adjustment or influenced by internal company factors rather than market-wide conditions.

23.06.2024 - PCAR Stock was down 5.7%

• Despite achieving excellent revenues and profits in the second quarter, Paccar Inc. reported a decrease in profit that missed Street estimates, leading to a bearish market movement.
• The slight increase in PCAR stock price at the closing of the latest trading day was not enough to offset the overall negative sentiment in the market.
• Investors might have reacted negatively to the company's lower-than-expected bottom line and the comparative underperformance of the Madison Investors Fund in the second quarter.
• The discrepancy between the strong quarterly results and the market's reaction could indicate that investors were expecting even better performance, causing the bearish movement in PCAR stock.

23.06.2024 - PCAR Stock was down 10.5%

• PCAR stock experienced a bearish movement today following the company's second-quarter financial results.
• The earnings per share of $2.13 reported by PACCAR missed the analyst estimate of $2.14, indicating a slight underperformance in profitability.
• Additionally, the revenue of $8.26 billion fell short of the analyst estimate of $8.33 billion, reflecting a lower-than-expected sales performance.
• The market reaction suggests that investors were disappointed by PACCAR's financial results, leading to a decline in the stock price as they reevaluate the company's growth prospects in light of these figures.

23.06.2024 - PCAR Stock was down 6.6%

• PCAR stock experienced a bearish movement today.
• The company reported worse-than-expected second-quarter financial results, with quarterly sales of $8.262 billion missing street expectations.
• Despite revenue beating estimates at $8.77 billion, the earnings per share of $2.13 fell short of the projected $2.14, leading to investor disappointment.
• The market reacted negatively to the earnings miss, causing a decline in PCAR stock price as investors reassess the company's performance and future prospects.

24.06.2024 - PCAR Stock was down 6.6%

• PCAR stock witnessed a decrease in value today.
• The second-quarter financial results indicated a decrease in pre-tax profit from the Trucks and Financial Services divisions, falling short of both earnings per share (EPS) and revenue predictions.
• The stock's decline was influenced by the financial outcomes being below expectations, with both revenue and EPS missing estimates.
• Investors' response to the company's performance possibly triggered the negative movement in PCAR stock.