PACCAR Inc (PCAR) Expected to Announce Quarterly Sales of $4.55 Billion
Brokerages expect that PACCAR Inc (NASDAQ:PCAR) will announce sales of $4.55 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for PACCAR’s earnings, with the highest sales estimate coming in at $4.76 billion and the lowest estimate coming in at $4.45 billion. PACCAR reported sales of $3.95 billion during the same quarter last year, which would suggest a positive year over year growth rate of 15.2%. The company is scheduled to issue its next earnings report before the market opens 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 anticipate that the company will report sales of $18.41 billion per share, with estimates ranging from $18.04 billion to $18.81 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow PACCAR.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a net margin of 7.93% and a return on equity of 20.52%. PACCAR’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 EPS.
PCAR has been the subject of a number of research analyst reports. Goldman Sachs Group, Inc. (The) raised PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Thursday, June 15th. BidaskClub lowered PACCAR from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. UBS AG set a $75.00 price objective on PACCAR and gave the company a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research raised PACCAR from a “sell” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Wednesday, July 12th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $72.00 price objective (up previously from $64.00) on shares of PACCAR in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $74.17.
Shares of PACCAR (NASDAQ PCAR) opened at 74.36 on Thursday. PACCAR has a 1-year low of $53.38 and a 1-year high of $74.66. The stock has a 50 day moving average of $68.13 and a 200 day moving average of $66.49. The company has a market cap of $26.13 billion, a price-to-earnings ratio of 19.90 and a beta of 1.18.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. PACCAR’s payout ratio is presently 26.74%.
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In other news, insider T. Kyle Quinn sold 2,786 shares of the firm’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 completion of the transaction, the insider now directly owns 20,800 shares in the company, valued at $1,412,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.64% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perpetual Ltd bought a new stake in PACCAR in the 2nd quarter worth about $2,010,000. Toronto Dominion Bank increased its holdings in PACCAR by 25.7% in the 2nd quarter. Toronto Dominion Bank now owns 118,996 shares of the company’s stock worth $7,857,000 after buying an additional 24,307 shares in the last quarter. Cetera Investment Advisers bought a new stake in PACCAR in the 2nd quarter worth about $204,000. WINTON GROUP Ltd increased its holdings in PACCAR by 97.2% in the 2nd quarter. WINTON GROUP Ltd now owns 6,963 shares of the company’s stock worth $460,000 after buying an additional 3,432 shares in the last quarter. Finally, Koch Industries Inc. bought a new stake in PACCAR in the 2nd quarter worth about $213,000. Institutional investors own 62.13% of the company’s stock.
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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