PACCAR Inc. (PCAR) to Post Q3 2017 Earnings of $1.10 Per Share, Jefferies Group Forecasts
PACCAR Inc. (NASDAQ:PCAR) – Equities research analysts at Jefferies Group boosted their Q3 2017 earnings estimates for shares of PACCAR in a report issued on Tuesday. Jefferies Group analyst S. Volkmann now anticipates that the company will earn $1.10 per share for the quarter, up from their previous estimate of $1.04. Jefferies Group has a “Buy” rating and a $77.00 price target on the stock. Jefferies Group also issued estimates for PACCAR’s FY2017 earnings at $4.05 EPS and FY2019 earnings at $5.00 EPS.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 earnings per share.
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A number of other equities analysts also recently issued reports on PCAR. UBS AG upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $66.00 to $75.00 in a report on Tuesday, June 6th. BidaskClub upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Monday. Stifel Nicolaus reiterated a “buy” rating and issued a $72.00 price target (up previously from $64.00) on shares of PACCAR in a report on Wednesday. Seaport Global Securities reiterated a “buy” rating and issued a $80.00 price target on shares of PACCAR in a report on Thursday, April 6th. Finally, Zacks Investment Research upgraded shares of PACCAR from a “sell” rating to a “buy” rating and set a $77.00 price target for the company in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $72.00.
Shares of PACCAR (NASDAQ:PCAR) opened at 68.56 on Thursday. PACCAR has a 1-year low of $53.38 and a 1-year high of $70.12. The stock has a market cap of $24.08 billion, a PE ratio of 16.95 and a beta of 1.14. The stock’s 50 day moving average is $66.12 and its 200-day moving average is $66.45.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.46%. PACCAR’s dividend payout ratio is currently 26.74%.
In other PACCAR news, VP Alma Lily Ley sold 904 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $67.39, for a total transaction of $60,920.56. Following the sale, the vice president now directly owns 1,679 shares of the company’s stock, valued at approximately $113,147.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.64% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Madrona Financial Services LLC boosted its stake in PACCAR by 0.7% in the first quarter. Madrona Financial Services LLC now owns 5,527 shares of the company’s stock valued at $371,000 after buying an additional 40 shares in the last quarter. Cleararc Capital Inc. boosted its stake in PACCAR by 0.9% in the first quarter. Cleararc Capital Inc. now owns 8,594 shares of the company’s stock valued at $578,000 after buying an additional 80 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock valued at $107,000 after buying an additional 95 shares in the last quarter. Cadence Capital Management LLC boosted its stake in PACCAR by 1.0% in the first quarter. Cadence Capital Management LLC now owns 10,010 shares of the company’s stock valued at $673,000 after buying an additional 97 shares in the last quarter. Finally, Creative Planning boosted its stake in PACCAR by 0.6% in the first quarter. Creative Planning now owns 17,705 shares of the company’s stock valued at $1,190,000 after buying an additional 103 shares in the last quarter. 61.45% of the stock is currently owned by institutional investors.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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