PACCAR Inc (PCAR) Expected to Announce Quarterly Sales of $4.84 Billion

Brokerages forecast that PACCAR Inc (NASDAQ:PCAR) will report $4.84 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for PACCAR’s earnings, with the highest sales estimate coming in at $4.93 billion and the lowest estimate coming in at $4.75 billion. PACCAR reported sales of $4.07 billion in the same quarter last year, which would suggest a positive year over year growth rate of 18.9%. The company is scheduled to report its next earnings results before the market opens on Tuesday, January 30th.

According to Zacks, analysts expect that PACCAR will report full-year sales of $4.84 billion for the current year, with estimates ranging from $17.82 billion to $17.99 billion. For the next year, analysts expect that the company will post sales of $19.88 billion per share, with estimates ranging from $19.35 billion to $21.29 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow PACCAR.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the previous year, the company posted $0.98 EPS. PACCAR’s revenue was up 19.7% on a year-over-year basis.

Several research analysts recently weighed in on PCAR shares. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Tuesday, September 26th. Royal Bank of Canada restated a “buy” rating and issued a $77.00 price objective on shares of PACCAR in a research report on Tuesday, October 3rd. UBS Group restated a “buy” rating and issued a $82.00 price objective (up previously from $76.00) on shares of PACCAR in a research report on Tuesday, October 3rd. JPMorgan Chase & Co. upgraded shares of PACCAR from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $83.00 in a research report on Wednesday, October 4th. Finally, Wells Fargo & Co boosted their price objective on shares of PACCAR from $74.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $75.58.

PACCAR (NASDAQ PCAR) opened at $77.51 on Monday. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75. PACCAR has a 1 year low of $61.93 and a 1 year high of $77.64. The firm has a market cap of $27,253.31, a P/E ratio of 19.87, a P/E/G ratio of 1.64 and a beta of 1.22.

The business also recently disclosed a special dividend, which was paid on Thursday, January 4th. Investors of record on Thursday, December 14th were given a $1.20 dividend. The ex-dividend date was Wednesday, December 13th. This represents a yield of 1.4%. PACCAR’s dividend payout ratio is currently 25.64%.

In other PACCAR news, insider Mark C. Pigott sold 98,956 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the sale, the insider now directly owns 2,985,401 shares of the company’s stock, valued at approximately $213,068,069.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP C Michael Dozier sold 3,618 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.02, for a total transaction of $249,714.36. The disclosure for this sale can be found here. Insiders sold a total of 106,598 shares of company stock worth $7,597,908 over the last ninety days. 2.64% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in shares of PACCAR by 11.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,765,314 shares of the company’s stock valued at $489,402,000 after purchasing an additional 694,185 shares during the period. Victory Capital Management Inc. raised its holdings in shares of PACCAR by 5.5% in the 3rd quarter. Victory Capital Management Inc. now owns 2,806,586 shares of the company’s stock valued at $203,028,000 after purchasing an additional 145,932 shares during the period. Boston Partners bought a new stake in shares of PACCAR in the 3rd quarter valued at about $155,973,000. Dimensional Fund Advisors LP raised its holdings in shares of PACCAR by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,062,819 shares of the company’s stock valued at $149,225,000 after purchasing an additional 11,814 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of PACCAR by 1.6% in the 3rd quarter. Legal & General Group Plc now owns 1,759,809 shares of the company’s stock valued at $127,305,000 after purchasing an additional 27,616 shares during the period. 62.17% of the stock is currently owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for PACCAR (NASDAQ:PCAR)

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