$5.77 Billion in Sales Expected for PACCAR Inc (PCAR) This Quarter

Brokerages forecast that PACCAR Inc (NASDAQ:PCAR) will announce $5.77 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for PACCAR’s earnings. The highest sales estimate is $5.87 billion and the lowest is $5.63 billion. PACCAR reported sales of $5.12 billion during the same quarter last year, which indicates a positive year over year growth rate of 12.7%. The firm is expected to announce its next earnings report on Tuesday, January 29th.

According to Zacks, analysts expect that PACCAR will report full year sales of $21.98 billion for the current financial year, with estimates ranging from $21.84 billion to $22.08 billion. For the next financial year, analysts forecast that the business will post sales of $22.71 billion, with estimates ranging from $22.11 billion to $23.21 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow PACCAR.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.04. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. PACCAR’s revenue for the quarter was up 14.5% compared to the same quarter last year.

PCAR has been the topic of a number of research analyst reports. BidaskClub upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. ValuEngine upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Credit Suisse Group reduced their price objective on PACCAR from $69.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, October 24th. Argus cut PACCAR from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut PACCAR from a “buy” rating to a “hold” rating in a research report on Wednesday, December 5th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $69.02.

In other PACCAR news, insider Mark C. Pigott sold 194,004 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $58.84, for a total value of $11,415,195.36. Following the completion of the sale, the insider now owns 3,080,449 shares of the company’s stock, valued at $181,253,619.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP David J. Danforth sold 651 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $59.44, for a total value of $38,695.44. Following the completion of the sale, the vice president now directly owns 5,453 shares of the company’s stock, valued at approximately $324,126.32. The disclosure for this sale can be found here. Insiders sold 195,262 shares of company stock valued at $11,490,110 in the last ninety days. Insiders own 2.64% of the company’s stock.

Several large investors have recently made changes to their positions in PCAR. Janney Montgomery Scott LLC lifted its position in shares of PACCAR by 20.6% in the second quarter. Janney Montgomery Scott LLC now owns 15,493 shares of the company’s stock worth $960,000 after buying an additional 2,642 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of PACCAR by 72.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 78,047 shares of the company’s stock worth $4,836,000 after buying an additional 32,668 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of PACCAR by 3.9% in the second quarter. Commonwealth Equity Services LLC now owns 39,777 shares of the company’s stock worth $2,465,000 after buying an additional 1,479 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of PACCAR by 16.6% in the second quarter. Wells Fargo & Company MN now owns 1,095,941 shares of the company’s stock worth $67,904,000 after buying an additional 155,915 shares during the last quarter. Finally, Sigma Planning Corp acquired a new stake in shares of PACCAR in the second quarter worth about $207,000. 60.57% of the stock is owned by institutional investors.

Shares of PCAR stock opened at $57.09 on Monday. PACCAR has a 1-year low of $53.95 and a 1-year high of $79.69. The company has a current ratio of 2.63, a quick ratio of 2.44 and a debt-to-equity ratio of 0.72. The firm has a market cap of $20.01 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.86 and a beta of 1.41.

PACCAR announced that its Board of Directors has authorized a share repurchase program on Tuesday, December 4th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 14th will be given a $2.00 dividend. The ex-dividend date of this dividend is Thursday, December 13th. PACCAR’s dividend payout ratio is currently 26.29%.

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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Earnings History and Estimates for PACCAR (NASDAQ:PCAR)

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