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

Brokerages predict that PACCAR Inc (NASDAQ:PCAR) will announce sales of $5.97 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for PACCAR’s earnings, with estimates ranging from $5.76 billion to $6.49 billion. PACCAR posted sales of $5.42 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 10.1%. The firm is expected to report its next quarterly earnings results on Tuesday, October 22nd.

According to Zacks, analysts expect that PACCAR will report full-year sales of $24.01 billion for the current financial year, with estimates ranging from $23.50 billion to $25.43 billion. For the next year, analysts anticipate that the business will post sales of $21.74 billion, with estimates ranging from $20.10 billion to $23.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for PACCAR.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). PACCAR had a net margin of 9.43% and a return on equity of 25.99%. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same period last year, the business earned $1.59 earnings per share. The company’s revenue was up 14.6% on a year-over-year basis.

Several research analysts have issued reports on PCAR shares. BMO Capital Markets lifted their target price on shares of PACCAR to $70.00 and gave the stock a “market perform” rating in a report on Friday, May 17th. Evercore ISI reaffirmed an “in-line” rating and issued a $76.00 target price (up from $73.00) on shares of PACCAR in a report on Friday, May 31st. JPMorgan Chase & Co. raised shares of PACCAR from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $87.00 to $66.00 in a report on Wednesday, July 24th. Credit Suisse Group boosted their price objective on shares of PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, BidaskClub cut shares of PACCAR from a “buy” rating to a “hold” rating in a report on Thursday. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. PACCAR currently has a consensus rating of “Hold” and a consensus target price of $68.89.

In other PACCAR news, VP David J. Danforth sold 848 shares of the company’s 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 completion of the transaction, the vice president now directly owns 4,958 shares in the company, valued at $355,290.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP C Michael Dozier sold 12,638 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $69.17, for a total transaction of $874,170.46. Following the completion of the transaction, the vice president now directly owns 8,401 shares in the company, valued at approximately $581,097.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,834 shares of company stock valued at $1,309,805. Company insiders own 2.32% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of PACCAR by 16.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,084,158 shares of the company’s stock valued at $176,244,000 after purchasing an additional 430,705 shares during the last quarter. Geode Capital Management LLC raised its position in PACCAR by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 5,068,951 shares of the company’s stock worth $289,187,000 after buying an additional 350,337 shares during the last quarter. Gotham Asset Management LLC purchased a new position in PACCAR during the 4th quarter worth approximately $334,000. Thrivent Financial for Lutherans raised its position in PACCAR by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 15,378 shares of the company’s stock worth $879,000 after buying an additional 271 shares during the last quarter. Finally, First Allied Advisory Services Inc. raised its position in PACCAR by 16.9% during the 4th quarter. First Allied Advisory Services Inc. now owns 7,195 shares of the company’s stock worth $410,000 after buying an additional 1,038 shares during the last quarter. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ PCAR traded down $1.43 during trading hours on Friday, reaching $66.71. 88,316 shares of the company’s stock traded hands, compared to its average volume of 1,648,297. PACCAR has a 52-week low of $53.43 and a 52-week high of $73.00. The company has a market cap of $24.59 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.25 and a beta of 1.25. The business’s 50-day simple moving average is $70.85. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.74.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 14th will be given a $0.32 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.92%. PACCAR’s payout ratio is currently 20.51%.

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.

Read More: Buy Rating

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Earnings History and Estimates for PACCAR (NASDAQ:PCAR)

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