Wall Street brokerages expect that PACCAR Inc. (NASDAQ:PCAR) will post sales of $4.85 billion for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for PACCAR’s earnings. The highest sales estimate is $4.93 billion and the lowest is $4.79 billion. PACCAR posted sales of $4.07 billion during the same quarter last year, which would indicate a positive year over year growth rate of 19.2%. The business is expected to issue its next quarterly earnings report on Tuesday, January 30th.
On average, analysts expect that PACCAR will report full year sales of $4.85 billion for the current fiscal year, with estimates ranging from $17.86 billion to $17.99 billion. For the next financial year, analysts expect that the firm will report sales of $19.49 billion per share, with estimates ranging from $19.10 billion to $20.26 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for PACCAR.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.06. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS.
Several research analysts have recently weighed in on PCAR shares. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Tuesday, September 5th. Buckingham Research began coverage on PACCAR in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $65.00 price objective for the company. ValuEngine raised PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Royal Bank Of Canada reissued a “buy” rating on shares of PACCAR in a research note on Friday, September 1st. Finally, Citigroup Inc. upped their target price on PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $75.95.
In other news, insider Mark C. Pigott sold 98,956 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the sale, the insider now owns 2,985,401 shares of the company’s stock, valued at approximately $213,068,069.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alma Lily Ley sold 4,024 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total value of $285,704.00. Following the sale, the vice president now directly owns 24,319 shares in the company, valued at approximately $1,726,649. The disclosure for this sale can be found here. 2.64% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of PACCAR by 91.1% during the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after acquiring an additional 890 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of PACCAR by 18.8% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after acquiring an additional 300 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of PACCAR by 29.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after acquiring an additional 500 shares in the last quarter. Sun Life Financial INC raised its position in shares of PACCAR by 19,884.6% during the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after acquiring an additional 2,585 shares in the last quarter. Finally, Hartland & Co. LLC acquired a new stake in shares of PACCAR during the 3rd quarter worth about $206,000. 63.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of PACCAR (PCAR) traded down $0.27 during mid-day trading on Monday, hitting $69.32. The stock had a trading volume of 912,318 shares, compared to its average volume of 1,900,463. The company has a current ratio of 2.56, a quick ratio of 2.40 and a debt-to-equity ratio of 0.75. The firm has a market cap of $24,280.00, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 1.66 and a beta of 1.24. PACCAR has a twelve month low of $58.38 and a twelve month high of $75.68.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s dividend payout ratio is currently 25.64%.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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