PACCAR Inc (NASDAQ:PCAR) Expected to Announce Quarterly Sales of $5.44 Billion

Wall Street brokerages expect PACCAR Inc (NASDAQ:PCAR) to post sales of $5.44 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for PACCAR’s earnings, with the lowest sales estimate coming in at $5.22 billion and the highest estimate coming in at $5.68 billion. PACCAR reported sales of $5.14 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.8%. The business is scheduled to announce its next quarterly earnings report on Tuesday, January 25th.

According to Zacks, analysts expect that PACCAR will report full year sales of $20.97 billion for the current year, with estimates ranging from $20.76 billion to $21.22 billion. For the next financial year, analysts anticipate that the company will report sales of $24.46 billion, with estimates ranging from $24.10 billion to $24.80 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow PACCAR.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 26th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.12). PACCAR had a return on equity of 16.01% and a net margin of 7.80%. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the prior year, the company posted $1.11 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year.

A number of equities research analysts have commented on PCAR shares. Wolfe Research raised shares of PACCAR from a “peer perform” rating to an “outperform” rating and set a $96.00 price objective on the stock in a research report on Tuesday, October 5th. Sanford C. Bernstein upgraded shares of PACCAR from a “market perform” rating to an “outperform” rating and increased their price target for the company from $94.00 to $98.00 in a report on Wednesday, December 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PACCAR from $93.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, October 5th. Credit Suisse Group raised shares of PACCAR from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $89.00 to $106.00 in a research report on Thursday, October 28th. Finally, Raymond James reduced their price target on shares of PACCAR from $115.00 to $105.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, October 20th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $101.00.

In related news, VP Todd R. Hubbard sold 526 shares of the stock in a transaction that occurred on Friday, October 29th. The stock was sold at an average price of $90.06, for a total transaction of $47,371.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Harrie Schippers sold 14,572 shares of the stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $90.17, for a total value of $1,313,957.24. The disclosure for this sale can be found here. 2.05% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC purchased a new position in PACCAR during the 4th quarter valued at about $28,000. Allworth Financial LP increased its stake in PACCAR by 54.3% in the 3rd quarter. Allworth Financial LP now owns 435 shares of the company’s stock worth $34,000 after buying an additional 153 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in PACCAR in the 3rd quarter worth $43,000. NEXT Financial Group Inc boosted its holdings in shares of PACCAR by 38.8% during the 3rd quarter. NEXT Financial Group Inc now owns 772 shares of the company’s stock valued at $61,000 after purchasing an additional 216 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of PACCAR by 80.7% during the 4th quarter. IFP Advisors Inc now owns 459 shares of the company’s stock valued at $74,000 after purchasing an additional 205 shares during the last quarter. 62.54% of the stock is owned by hedge funds and other institutional investors.

PCAR traded up $1.18 during trading hours on Friday, hitting $96.50. 2,156,980 shares of the company’s stock were exchanged, compared to its average volume of 1,843,798. PACCAR has a 12-month low of $77.96 and a 12-month high of $103.19. The firm has a 50 day moving average of $88.28 and a 200 day moving average of $85.63. The company has a current ratio of 2.67, a quick ratio of 2.33 and a debt-to-equity ratio of 0.60. The firm has a market cap of $33.50 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98.

The firm also recently declared a None dividend, which was paid on Wednesday, January 5th. Stockholders of record on Friday, December 17th were issued a dividend of $1.50 per share. The ex-dividend date was Thursday, December 16th. This is a boost from PACCAR’s previous None dividend of $0.70. PACCAR’s payout ratio is 27.15%.

About PACCAR

PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.

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