Brokerages Expect PACCAR Inc. (NASDAQ:PCAR) Will Post Earnings of $0.98 Per Share
Wall Street analysts expect that PACCAR Inc. (NASDAQ:PCAR) will report earnings per share of $0.98 for the current quarter, Zacks reports. Seven analysts have provided estimates for PACCAR’s earnings. The lowest EPS estimate is $0.93 and the highest is $1.01. PACCAR posted earnings of $1.06 per share in the same quarter last year, which indicates a negative year over year growth rate of 7.5%. The business is expected to issue its next earnings report before the market opens on Tuesday, July 25th.
According to Zacks, analysts expect that PACCAR will report full year earnings of $3.75 per share for the current year, with EPS estimates ranging from $3.60 to $4.00. For the next year, analysts forecast that the business will report earnings of $4.25 per share, with EPS estimates ranging from $4.10 to $4.50. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow PACCAR.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.88. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.85 billion. PACCAR had a net margin of 8.56% and a return on equity of 19.13%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share.
A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded PACCAR from a “sell” rating to a “buy” rating and set a $77.00 target price for the company in a report on Wednesday, July 12th. BidaskClub raised PACCAR from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reissued a “buy” rating and set a $75.00 price target on shares of PACCAR in a research report on Wednesday, March 22nd. UBS AG set a $75.00 price target on PACCAR and gave the stock a “buy” rating in a research report on Thursday, July 6th. Finally, Seaport Global Securities reissued a “buy” rating and set a $80.00 price target on shares of PACCAR in a research report on Thursday, April 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $69.94.
Shares of PACCAR (NASDAQ PCAR) traded up 0.12% during mid-day trading on Wednesday, hitting $68.53. 1,491,324 shares of the stock traded hands. The company has a market cap of $24.07 billion, a P/E ratio of 16.94 and a beta of 1.14. The stock has a 50 day moving average price of $65.16 and a 200-day moving average price of $66.32. PACCAR has a one year low of $53.38 and a one year high of $70.12.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.46%. PACCAR’s payout ratio is currently 24.69%.
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In related news, VP Alma Lily Ley sold 904 shares of the company’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $67.39, for a total transaction of $60,920.56. Following the completion of the transaction, the vice president now directly owns 1,679 shares in the company, valued at approximately $113,147.81. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.64% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. LMR Partners LLP bought a new position in shares of PACCAR during the first quarter worth approximately $577,000. Thrivent Financial for Lutherans boosted its position in PACCAR by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,177 shares of the company’s stock valued at $778,000 after buying an additional 720 shares during the last quarter. Morse Asset Management Inc acquired a new position in PACCAR during the first quarter valued at about $774,000. Creative Planning boosted its position in PACCAR by 0.6% in the first quarter. Creative Planning now owns 17,705 shares of the company’s stock valued at $1,190,000 after buying an additional 103 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in PACCAR by 33.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,755 shares of the company’s stock valued at $239,000 after buying an additional 934 shares during the last quarter. Hedge funds and other institutional investors own 61.35% of the company’s stock.
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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