Brokerages forecast that PACCAR Inc (NASDAQ:PCAR) will post $1.56 earnings per share for the current quarter, Zacks reports. Six analysts have issued estimates for PACCAR’s earnings, with estimates ranging from $1.50 to $1.61. PACCAR reported earnings per share of $1.18 during the same quarter last year, which indicates a positive year-over-year growth rate of 32.2%. The company is scheduled to report its next quarterly earnings results on Tuesday, January 29th.
On average, analysts expect that PACCAR will report full year earnings of $6.16 per share for the current year, with EPS estimates ranging from $6.09 to $6.20. For the next fiscal year, analysts forecast that the company will post earnings of $6.24 per share, with EPS estimates ranging from $5.80 to $6.40. Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for PACCAR.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 23rd. The company reported $1.55 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.04. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same period last year, the firm earned $1.14 EPS. The company’s quarterly revenue was up 14.5% on a year-over-year basis.
PCAR has been the topic of several research analyst reports. BidaskClub upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. Piper Jaffray Companies upgraded PACCAR from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a report on Wednesday, October 24th. JPMorgan Chase & Co. lowered their price objective on PACCAR from $72.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday, October 24th. Credit Suisse Group lowered their price objective on PACCAR from $69.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. Finally, Zacks Investment Research cut PACCAR from a “buy” rating to a “hold” rating in a report on Wednesday, November 28th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the stock. PACCAR has a consensus rating of “Hold” and an average target price of $69.02.
Shares of NASDAQ:PCAR traded down $1.49 during trading on Friday, reaching $57.09. 2,223,975 shares of the company’s stock traded hands, compared to its average volume of 1,848,127. PACCAR has a fifty-two week low of $53.95 and a fifty-two week high of $79.69. The company has a quick ratio of 2.44, a current ratio of 2.63 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $20.53 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.88 and a beta of 1.41.
PACCAR declared that its board has authorized a share buyback program on Tuesday, December 4th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 14th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Thursday, December 13th. PACCAR’s dividend payout ratio (DPR) is 26.29%.
In other news, VP David J. Danforth sold 651 shares of PACCAR stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $59.44, for a total transaction of $38,695.44. Following the sale, the vice president now owns 5,453 shares of the company’s stock, valued at approximately $324,126.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Douglas S. Grandstaff sold 607 shares of PACCAR stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $59.67, for a total transaction of $36,219.69. Following the sale, the vice president now directly owns 5,284 shares in the company, valued at approximately $315,296.28. The disclosure for this sale can be found here. Insiders sold a total of 195,262 shares of company stock worth $11,490,110 over the last three months. Corporate insiders own 2.64% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PCAR. Bank of New York Mellon Corp raised its position in shares of PACCAR by 33.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,026,604 shares of the company’s stock valued at $410,954,000 after buying an additional 1,505,929 shares during the period. FMR LLC raised its position in shares of PACCAR by 26.1% during the 3rd quarter. FMR LLC now owns 6,043,716 shares of the company’s stock valued at $412,121,000 after buying an additional 1,249,446 shares during the period. Federated Investors Inc. PA raised its position in shares of PACCAR by 9,286.5% during the 2nd quarter. Federated Investors Inc. PA now owns 902,329 shares of the company’s stock valued at $55,908,000 after buying an additional 892,716 shares during the period. Schroder Investment Management Group raised its position in PACCAR by 934.2% in the second quarter. Schroder Investment Management Group now owns 869,356 shares of the company’s stock valued at $53,935,000 after purchasing an additional 785,295 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in PACCAR by 75.1% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,780,223 shares of the company’s stock valued at $121,393,000 after purchasing an additional 763,338 shares during the period. 60.57% of the stock is currently owned by hedge funds and other institutional investors.
PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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