$4.60 Billion in Sales Expected for PACCAR Inc. (PCAR) This Quarter
Equities analysts expect PACCAR Inc. (NASDAQ:PCAR) to report $4.60 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for PACCAR’s earnings. The lowest sales estimate is $4.45 billion and the highest is $4.85 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 16.5%. The company is expected to report its next earnings report before the market opens on Tuesday, October 24th.
According to Zacks, analysts expect that PACCAR will report full-year sales of $4.60 billion for the current year, with estimates ranging from $16.91 billion to $18.06 billion. For the next fiscal year, analysts forecast that the business will report sales of $18.87 billion per share, with estimates ranging from $18.04 billion to $20.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover PACCAR.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.06. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.57 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS.
A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of PACCAR from $74.00 to $77.00 and gave the company a “market perform” rating in a report on Friday, October 6th. BMO Capital Markets reiterated a “buy” rating and set a $85.00 price target on shares of PACCAR in a report on Friday. J P Morgan Chase & Co upgraded shares of PACCAR from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $83.00 in a report on Wednesday, October 4th. Deutsche Bank AG reiterated a “hold” rating and set a $78.00 price target (up previously from $75.00) on shares of PACCAR in a report on Monday, October 9th. Finally, ValuEngine cut shares of PACCAR from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. PACCAR presently has an average rating of “Hold” and a consensus target price of $75.84.
In other news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the transaction, the insider now owns 20,800 shares in the company, valued at approximately $1,412,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.64% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in PCAR. OppenheimerFunds Inc. increased its holdings in shares of PACCAR by 2.3% in the 1st quarter. OppenheimerFunds Inc. now owns 30,437 shares of the company’s stock valued at $2,045,000 after purchasing an additional 697 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of PACCAR by 12.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,024 shares of the company’s stock valued at $1,413,000 after purchasing an additional 2,396 shares in the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of PACCAR by 6.0% in the 1st quarter. Thrivent Financial For Lutherans now owns 12,907 shares of the company’s stock valued at $867,000 after purchasing an additional 730 shares in the last quarter. Global X Management Co. LLC increased its holdings in shares of PACCAR by 27.6% in the 1st quarter. Global X Management Co. LLC now owns 3,235 shares of the company’s stock valued at $217,000 after purchasing an additional 700 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of PACCAR by 1.1% in the 1st quarter. Amalgamated Bank now owns 24,342 shares of the company’s stock valued at $1,636,000 after purchasing an additional 276 shares in the last quarter. Institutional investors and hedge funds own 62.17% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/24/4-60-billion-in-sales-expected-for-paccar-inc-pcar-this-quarter.html.
Shares of PACCAR (PCAR) traded down 5.02% during trading on Tuesday, reaching $70.90. 2,587,183 shares of the company’s stock were exchanged. PACCAR has a 12-month low of $53.38 and a 12-month high of $75.68. The company has a 50 day moving average of $71.47 and a 200 day moving average of $67.06. The stock has a market cap of $24.91 billion, a P/E ratio of 18.98 and a beta of 1.17.
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 $0.25 dividend. The ex-dividend date is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. PACCAR’s dividend payout ratio 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PACCAR Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR Inc. and related companies with MarketBeat.com's FREE daily email newsletter.