Zacks: Analysts Anticipate PACCAR Inc (NASDAQ:PCAR) Will Announce Quarterly Sales of $5.97 Billion

Analysts expect that PACCAR Inc (NASDAQ:PCAR) will report sales of $5.97 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for PACCAR’s earnings. The highest sales estimate is $6.49 billion and the lowest is $5.76 billion. PACCAR posted sales of $5.42 billion during the same quarter last year, which indicates a positive year over year growth rate of 10.1%. The company is scheduled to announce its next earnings results on Tuesday, October 22nd.

On average, analysts expect that PACCAR will report full year sales of $24.01 billion for the current year, with estimates ranging from $23.50 billion to $25.43 billion. For the next year, analysts expect that the firm will post sales of $21.40 billion, with estimates ranging from $20.10 billion to $22.04 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for PACCAR.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.04). The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.21 billion. PACCAR had a return on equity of 25.99% and a net margin of 9.43%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.59 EPS.

A number of equities analysts have commented on the stock. OTR Global restated a “negative” rating on shares of PACCAR in a research report on Wednesday. Credit Suisse Group boosted their price target on shares of PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. ValuEngine upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, October 4th. Morgan Stanley boosted their price target on shares of PACCAR from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Wednesday, July 24th. Finally, Loop Capital lowered shares of PACCAR from a “hold” rating to a “sell” rating and reduced their price target for the company from $70.00 to $62.00 in a research report on Tuesday, July 2nd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $68.89.

In related news, VP David J. Danforth sold 848 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $71.66, for a total value of $60,767.68. Following the transaction, the vice president now directly owns 4,958 shares in the company, valued at $355,290.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.32% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Cerebellum GP LLC bought a new stake in PACCAR in the third quarter valued at approximately $78,000. First Hawaiian Bank increased its stake in PACCAR by 8.0% in the third quarter. First Hawaiian Bank now owns 6,837 shares of the company’s stock valued at $478,000 after purchasing an additional 508 shares in the last quarter. State of Alaska Department of Revenue increased its stake in PACCAR by 37.1% in the third quarter. State of Alaska Department of Revenue now owns 67,601 shares of the company’s stock valued at $4,731,000 after purchasing an additional 18,301 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in PACCAR by 3.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 103,891 shares of the company’s stock valued at $7,445,000 after purchasing an additional 3,196 shares in the last quarter. Finally, Wilsey Asset Management Inc. increased its stake in PACCAR by 1.2% in the second quarter. Wilsey Asset Management Inc. now owns 176,749 shares of the company’s stock valued at $12,538,000 after purchasing an additional 2,116 shares in the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

NASDAQ PCAR traded up $0.21 on Friday, reaching $66.77. The company’s stock had a trading volume of 243,478 shares, compared to its average volume of 1,810,133. The firm has a market cap of $23.05 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 1.43 and a beta of 1.26. The business has a 50-day moving average price of $67.64 and a 200 day moving average price of $68.90. PACCAR has a 52 week low of $53.43 and a 52 week high of $73.00. The company has a current ratio of 2.43, a quick ratio of 2.26 and a debt-to-equity ratio of 0.70.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.28 annualized dividend and a yield of 1.92%. PACCAR’s dividend payout ratio is currently 20.51%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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