PACCAR Inc (NASDAQ:PCAR) Expected to Post Quarterly Sales of $5.50 Billion


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Equities analysts predict that PACCAR Inc (NASDAQ:PCAR) will announce sales of $5.50 billion for the current quarter, Zacks reports. Three analysts have provided estimates for PACCAR’s earnings, with the highest sales estimate coming in at $5.57 billion and the lowest estimate coming in at $5.36 billion. PACCAR posted sales of $4.78 billion in the same quarter last year, which would indicate a positive year over year growth rate of 15.1%. The firm is scheduled to report its next quarterly earnings report on Tuesday, April 20th.

According to Zacks, analysts expect that PACCAR will report full-year sales of $22.22 billion for the current year, with estimates ranging from $21.91 billion to $22.74 billion. For the next year, analysts anticipate that the firm will report sales of $23.60 billion, with estimates ranging from $22.88 billion to $24.08 billion. Zacks’ 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 data on Monday, January 25th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.05). PACCAR had a net margin of 7.39% and a return on equity of 14.49%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter last year, the company earned $1.53 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis.

Several brokerages have recently weighed in on PCAR. Bank of America downgraded PACCAR from a “buy” rating to an “underperform” rating in a report on Friday, November 20th. Credit Suisse Group reduced their price target on PACCAR from $94.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, January 27th. Raymond James increased their price target on PACCAR from $105.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Monday, January 25th. Morgan Stanley increased their price objective on PACCAR from $96.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Friday, January 22nd. Finally, Zacks Investment Research cut PACCAR from a “strong-buy” rating to a “hold” rating and set a $89.00 price objective on the stock. in a research note on Tuesday, December 15th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. PACCAR presently has a consensus rating of “Hold” and a consensus target price of $93.56.

Shares of NASDAQ PCAR traded down $2.68 during midday trading on Thursday, hitting $92.00. The company’s stock had a trading volume of 61,199 shares, compared to its average volume of 2,051,670. The company has a current ratio of 3.14, a quick ratio of 2.95 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $93.33 and its two-hundred day moving average is $88.82. PACCAR has a 12-month low of $49.11 and a 12-month high of $103.19. The firm has a market cap of $31.92 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 1.62 and a beta of 1.00.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 2nd. Investors of record on Tuesday, February 9th will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, February 8th. This represents a $1.28 annualized dividend and a yield of 1.39%. PACCAR’s dividend payout ratio (DPR) is 18.63%.

In related news, CEO R Preston Feight sold 3,288 shares of the business’s stock in a transaction on Friday, January 29th. The stock was sold at an average price of $89.81, for a total transaction of $295,295.28. Following the transaction, the chief executive officer now directly owns 21,606 shares in the company, valued at approximately $1,940,434.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Harrie Schippers sold 7,848 shares of the business’s stock in a transaction on Friday, February 5th. The stock was sold at an average price of $96.44, for a total value of $756,861.12. Following the transaction, the chief financial officer now owns 49,755 shares in the company, valued at $4,798,372.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,150 shares of company stock worth $2,540,164. 2.18% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of PCAR. Great West Life Assurance Co. Can grew its stake in PACCAR by 6,866.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 18,962,520 shares of the company’s stock valued at $34,619,000 after purchasing an additional 18,690,314 shares during the last quarter. State Street Corp grew its stake in PACCAR by 2.7% during the 3rd quarter. State Street Corp now owns 15,201,454 shares of the company’s stock valued at $1,296,380,000 after purchasing an additional 395,114 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in PACCAR during the 3rd quarter valued at about $32,163,000. AQR Capital Management LLC grew its stake in PACCAR by 76.6% during the 3rd quarter. AQR Capital Management LLC now owns 803,541 shares of the company’s stock valued at $68,526,000 after purchasing an additional 348,630 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in PACCAR during the 3rd quarter valued at about $27,784,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

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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Earnings History and Estimates for PACCAR (NASDAQ:PCAR)

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