Analysts Anticipate PACCAR Inc. (PCAR) Will Post Quarterly Sales of $4.27 Billion
Analysts forecast that PACCAR Inc. (NASDAQ:PCAR) will announce $4.27 billion in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for PACCAR’s earnings, with the lowest sales estimate coming in at $4.17 billion and the highest estimate coming in at $4.44 billion. PACCAR reported sales of $4.12 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The firm is expected to report its next earnings results before the market opens on Tuesday, July 25th.
On average, analysts expect that PACCAR will report full-year sales of $4.27 billion for the current financial year, with estimates ranging from $15.92 billion to $17.24 billion. For the next financial year, analysts forecast that the business will report sales of $17.70 billion per share, with estimates ranging from $17.05 billion to $18.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover PACCAR.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $0.88 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.88. PACCAR had a return on equity of 19.13% and a net margin of 8.56%. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the company earned $0.99 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis.
A number of analysts have weighed in on the company. UBS AG upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $66.00 to $75.00 in a report on Tuesday, June 6th. Jefferies Group LLC set a $77.00 target price on PACCAR and gave the stock a “buy” rating in a report on Sunday, May 28th. BidaskClub lowered PACCAR from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Tuesday, June 6th. Finally, Bank of America Corporation lowered PACCAR from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $78.00 to $70.00 in a report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $71.56.
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 value of $60,920.56. Following the transaction, the vice president now directly owns 1,679 shares of the company’s stock, valued at approximately $113,147.81. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.64% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in PCAR. Benjamin F. Edwards & Company Inc. increased its position in PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock valued at $107,000 after buying an additional 95 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock valued at $108,000 after buying an additional 400 shares during the last quarter. State of Alaska Department of Revenue increased its position in PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after buying an additional 500 shares during the last quarter. Perkins Coie Trust Co increased its position in PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after buying an additional 1,157 shares during the last quarter. Finally, Boltwood Capital Management purchased a new position in PACCAR during the first quarter valued at about $201,000. 61.35% of the stock is currently owned by hedge funds and other institutional investors.
PACCAR (PCAR) traded up 0.25% on Friday, reaching $68.72. The company had a trading volume of 613,266 shares. PACCAR has a 52 week low of $53.38 and a 52 week high of $70.12. The company has a market capitalization of $24.14 billion, a P/E ratio of 16.98 and a beta of 1.14. The stock’s 50-day moving average is $65.49 and its 200-day moving average is $66.35.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, August 14th. PACCAR’s payout ratio is 24.69%.
PACCAR Company Profile
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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