$4.55 Billion in Sales Expected for PACCAR Inc. (PCAR) This Quarter
Equities research analysts expect that PACCAR Inc. (NASDAQ:PCAR) will announce sales of $4.55 billion for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for PACCAR’s earnings. The lowest sales estimate is $4.45 billion and the highest is $4.76 billion. PACCAR reported sales of $3.95 billion during the same quarter last year, which indicates a positive year over year growth rate of 15.2%. The company is scheduled to report its next earnings report on Tuesday, October 24th.
On average, analysts expect that PACCAR will report full-year sales of $4.55 billion for the current year, with estimates ranging from $16.91 billion to $18.02 billion. For the next year, analysts forecast that the firm will report sales of $18.38 billion per share, with estimates ranging from $18.04 billion to $18.81 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover PACCAR.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.07. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. PACCAR’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 earnings per share.
Several research analysts have commented on the company. BidaskClub raised PACCAR from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $72.00 price target (up previously from $64.00) on shares of PACCAR in a research report on Wednesday, July 26th. Citigroup Inc. lifted their price target on PACCAR from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. UBS AG reaffirmed a “buy” rating and set a $76.00 price target (up previously from $75.00) on shares of PACCAR in a research report on Wednesday, July 26th. Finally, Zacks Investment Research raised 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $72.00.
In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the sale, the insider now directly owns 20,800 shares in the company, valued at $1,412,112. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.64% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of PCAR. BlackRock Inc. increased its stake in PACCAR by 2,119.4% in the first quarter. BlackRock Inc. now owns 23,936,276 shares of the company’s stock worth $1,608,519,000 after buying an additional 22,857,778 shares during the last quarter. Principal Financial Group Inc. increased its stake in PACCAR by 381.5% in the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after buying an additional 2,038,761 shares during the last quarter. Victory Capital Management Inc. increased its stake in PACCAR by 25,225.9% in the first quarter. Victory Capital Management Inc. now owns 1,669,483 shares of the company’s stock worth $112,190,000 after buying an additional 1,662,891 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in PACCAR during the second quarter worth approximately $82,298,000. Finally, Vanguard Group Inc. increased its stake in PACCAR by 5.0% in the second quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock worth $1,621,636,000 after buying an additional 1,164,896 shares during the last quarter. Institutional investors own 61.31% of the company’s stock.
Shares of PACCAR (NASDAQ:PCAR) traded down 0.61% during midday trading on Friday, reaching $64.81. The company had a trading volume of 1,497,840 shares. The company’s 50 day moving average price is $67.26 and its 200 day moving average price is $66.54. The stock has a market capitalization of $22.77 billion, a PE ratio of 17.35 and a beta of 1.14. PACCAR has a 52-week low of $53.38 and a 52-week high of $70.32.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Investors 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 dividend on an annualized basis and a dividend yield of 1.54%. PACCAR’s dividend payout ratio (DPR) is presently 26.74%.
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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