Zacks: Brokerages Anticipate PACCAR Inc (PCAR) Will Announce Quarterly Sales of $5.49 Billion
Equities analysts expect PACCAR Inc (NASDAQ:PCAR) to post $5.49 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for PACCAR’s earnings, with the highest sales estimate coming in at $5.64 billion and the lowest estimate coming in at $5.33 billion. PACCAR reported sales of $4.73 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 16.1%. The firm is scheduled to announce its next earnings report before the market opens on Tuesday, October 23rd.
According to Zacks, analysts expect that PACCAR will report full year sales of $21.69 billion for the current year, with estimates ranging from $21.20 billion to $22.24 billion. For the next financial year, analysts expect that the firm will post sales of $22.20 billion, with estimates ranging from $21.73 billion to $22.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover PACCAR.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 24th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.16. The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.39 billion. PACCAR had a net margin of 9.39% and a return on equity of 22.68%. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share.
In related news, VP David J. Danforth sold 3,304 shares of PACCAR stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $65.57, for a total transaction of $216,643.28. Following the transaction, the vice president now directly owns 7,878 shares of the company’s stock, valued at $516,560.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Darrin C. Siver sold 5,750 shares of PACCAR stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $64.46, for a total transaction of $370,645.00. Following the transaction, the insider now directly owns 22,596 shares in the company, valued at $1,456,538.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,634 shares of company stock worth $625,510. 2.64% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Summit Trail Advisors LLC grew its holdings in PACCAR by 5,414.0% in the first quarter. Summit Trail Advisors LLC now owns 1,540,398 shares of the company’s stock worth $1,540,000 after purchasing an additional 1,512,462 shares during the last quarter. Federated Investors Inc. PA grew its holdings in PACCAR by 9,286.5% in the second quarter. Federated Investors Inc. PA now owns 902,329 shares of the company’s stock worth $55,908,000 after purchasing an additional 892,716 shares during the last quarter. Schroder Investment Management Group grew its holdings in PACCAR by 934.2% in the second quarter. Schroder Investment Management Group now owns 869,356 shares of the company’s stock worth $53,935,000 after purchasing an additional 785,295 shares during the last quarter. LSV Asset Management grew its holdings in PACCAR by 486.7% in the second quarter. LSV Asset Management now owns 469,933 shares of the company’s stock worth $29,117,000 after purchasing an additional 389,833 shares during the last quarter. Finally, FMR LLC grew its holdings in PACCAR by 8.8% in the second quarter. FMR LLC now owns 4,794,270 shares of the company’s stock worth $297,053,000 after purchasing an additional 389,659 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors.
Shares of NASDAQ:PCAR traded down $0.72 during trading on Friday, reaching $62.13. 2,730,412 shares of the company were exchanged, compared to its average volume of 2,255,387. The firm has a market cap of $23.90 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25. PACCAR has a 12-month low of $59.82 and a 12-month high of $79.69. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.34 and a current ratio of 2.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Tuesday, November 13th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Friday, November 9th. PACCAR’s payout ratio is 26.29%.
PACCAR declared that its Board of Directors has initiated a stock buyback plan on Monday, July 9th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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