Analysts Set Expectations for PACCAR Inc.’s Q3 2017 Earnings (PCAR)
PACCAR Inc. (NASDAQ:PCAR) – Research analysts at Seaport Global Securities lifted their Q3 2017 earnings estimates for PACCAR in a note issued to investors on Tuesday. Seaport Global Securities analyst R. Wood now expects that the company will post earnings per share of $1.06 for the quarter, up from their previous estimate of $0.90. Seaport Global Securities has a “Buy” rating and a $80.00 price target on the stock. Seaport Global Securities also issued estimates for PACCAR’s Q4 2017 earnings at $0.92 EPS, FY2017 earnings at $3.91 EPS, Q1 2018 earnings at $1.03 EPS, Q2 2018 earnings at $1.16 EPS, Q3 2018 earnings at $1.15 EPS, Q4 2018 earnings at $1.05 EPS and FY2018 earnings at $4.40 EPS.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.07. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a net margin of 8.56% and a return on equity of 19.13%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS.
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Several other brokerages have also recently issued reports on PCAR. BidaskClub upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Monday. Zacks Investment Research upgraded shares of PACCAR from a “sell” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Wednesday, July 12th. UBS AG set a $75.00 price target on shares of PACCAR and gave the company a “buy” rating in a research report on Thursday, July 6th. Deutsche Bank AG boosted their price target on shares of PACCAR from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Thursday, April 6th. Finally, Bank of America Corporation cut shares of PACCAR from a “buy” rating to a “neutral” rating and reduced their price target for the company from $78.00 to $70.00 in a research report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. PACCAR has a consensus rating of “Hold” and a consensus price target of $71.56.
PACCAR (NASDAQ PCAR) opened at 68.64 on Wednesday. The stock’s 50 day moving average is $65.81 and its 200-day moving average is $66.41. The company has a market cap of $24.11 billion, a PE ratio of 16.96 and a beta of 1.14. PACCAR has a 52-week low of $53.38 and a 52-week high of $70.32.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its position in shares of 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 in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in shares of 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 in the last quarter. State of Alaska Department of Revenue increased its position in shares of 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 in the last quarter. Perkins Coie Trust Co increased its position in shares of 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 in the last quarter. Finally, Private Advisor Group LLC purchased a new position in shares of PACCAR during the first quarter valued at about $175,000. Hedge funds and other institutional investors own 61.45% of the company’s stock.
In other news, VP Alma Lily Ley sold 904 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $67.39, for a total value of $60,920.56. Following the transaction, the vice president now owns 1,679 shares in the company, valued at $113,147.81. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.64% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.46%. PACCAR’s dividend payout ratio is presently 24.69%.
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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