$5.97 Billion in Sales Expected for PACCAR Inc (PCAR) This Quarter

Equities research analysts expect PACCAR Inc (NASDAQ:PCAR) to report sales of $5.97 billion for the current quarter, according to Zacks. Five analysts have issued estimates for PACCAR’s earnings, with estimates ranging from $5.85 billion to $6.12 billion. PACCAR reported sales of $5.32 billion during the same quarter last year, which would suggest a positive year over year growth rate of 12.2%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, April 30th.

According to Zacks, analysts expect that PACCAR will report full-year sales of $23.15 billion for the current year, with estimates ranging from $22.89 billion to $23.71 billion. For the next fiscal year, analysts expect that the firm will post sales of $21.22 billion, with estimates ranging from $19.72 billion to $23.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow PACCAR.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 29th. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.57 by $0.08. The company had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.71 billion. PACCAR had a net margin of 9.34% and a return on equity of 25.01%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 EPS.

A number of analysts have commented on PCAR shares. ValuEngine lowered PACCAR from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. BidaskClub downgraded shares of PACCAR from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Vertical Research downgraded shares of PACCAR from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. Zacks Investment Research reiterated a “buy” rating and issued a $61.00 price target on shares of PACCAR in a research report on Monday, December 31st. Finally, JPMorgan Chase & Co. downgraded shares of PACCAR from a “neutral” rating to an “underweight” rating and set a $54.00 price target for the company. in a research report on Thursday, January 10th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. PACCAR has a consensus rating of “Hold” and an average target price of $67.48.

In other PACCAR news, VP David J. Danforth sold 1,500 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $64.99, for a total value of $97,485.00. Following the sale, the vice president now directly owns 6,571 shares in the company, valued at $427,049.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ronald E. Armstrong sold 15,784 shares of the firm’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $66.00, for a total value of $1,041,744.00. Following the completion of the sale, the chief executive officer now owns 222,499 shares in the company, valued at $14,684,934. The disclosure for this sale can be found here. Insiders have sold 61,989 shares of company stock worth $4,160,345 over the last 90 days. 2.32% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund boosted its holdings in shares of PACCAR by 7,876.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,701,443 shares of the company’s stock worth $135,000 after purchasing an additional 7,604,885 shares during the period. Norges Bank acquired a new position in PACCAR in the fourth quarter worth $333,867,000. BlackRock Inc. boosted its stake in PACCAR by 7.8% in the fourth quarter. BlackRock Inc. now owns 25,297,074 shares of the company’s stock worth $1,445,476,000 after purchasing an additional 1,830,638 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of PACCAR by 33.3% during the third quarter. Bank of New York Mellon Corp now owns 6,026,604 shares of the company’s stock valued at $410,954,000 after acquiring an additional 1,505,929 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in shares of PACCAR by 139.1% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 943,149 shares of the company’s stock valued at $53,893,000 after acquiring an additional 548,660 shares during the period. Institutional investors own 62.49% of the company’s stock.

Shares of PCAR traded up $0.79 during trading on Friday, reaching $70.50. 1,073,876 shares of the company traded hands, compared to its average volume of 2,085,574. PACCAR has a twelve month low of $53.43 and a twelve month high of $72.89. The stock has a market cap of $24.17 billion, a PE ratio of 11.30, a P/E/G ratio of 1.28 and a beta of 1.24. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.33 and a quick ratio of 2.18.

PACCAR Company Profile

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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Earnings History and Estimates for PACCAR (NASDAQ:PCAR)

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