PACCAR Inc (PCAR) Expected to Post Quarterly Sales of $5.48 Billion

Analysts expect that PACCAR Inc (NASDAQ:PCAR) will post $5.48 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for PACCAR’s earnings, with the lowest sales estimate coming in at $5.33 billion and the highest estimate coming in at $5.64 billion. PACCAR posted sales of $4.73 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 15.9%. The business is scheduled to issue its next earnings report on Tuesday, October 23rd.

On average, analysts expect that PACCAR will report full-year sales of $21.70 billion for the current financial year, with estimates ranging from $21.20 billion to $22.24 billion. For the next financial year, analysts forecast that the company will report sales of $22.24 billion per share, 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 firms that follow PACCAR.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 24th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.43 by $0.16. PACCAR had a net margin of 9.39% and a return on equity of 22.68%. The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The business’s revenue was up 24.3% on a year-over-year basis.

PCAR has been the subject of a number of analyst reports. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday, June 26th. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. ValuEngine raised shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. BMO Capital Markets downgraded shares of PACCAR from an “outperform” rating to a “market perform” rating and set a $80.00 price target for the company. in a report on Wednesday, July 18th. Finally, Mizuho initiated coverage on shares of PACCAR in a report on Friday, June 29th. They issued a “neutral” rating and a $70.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the stock. PACCAR currently has an average rating of “Hold” and an average price target of $71.64.

Shares of NASDAQ:PCAR traded down $0.17 during trading on Friday, reaching $69.01. The company’s stock had a trading volume of 1,862,900 shares, compared to its average volume of 2,322,875. The company has a current ratio of 2.52, a quick ratio of 2.34 and a debt-to-equity ratio of 0.69. PACCAR has a 12 month low of $59.82 and a 12 month high of $79.69. The company has a market cap of $24.51 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.07 and a beta of 1.25.

PACCAR announced that its board has authorized a share buyback program on Monday, July 9th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 5th. Investors of record on Tuesday, August 14th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Monday, August 13th. PACCAR’s dividend payout ratio (DPR) is currently 26.29%.

In related news, insider Darrin C. Siver sold 5,750 shares of the stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $64.46, for a total value of $370,645.00. Following the sale, the insider now directly owns 22,596 shares of the company’s stock, valued at approximately $1,456,538.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David J. Danforth sold 3,304 shares of the stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $65.57, for a total transaction of $216,643.28. Following the completion of the sale, the vice president now directly owns 7,878 shares in the company, valued at $516,560.46. The disclosure for this sale can be found here. Insiders sold a total of 9,634 shares of company stock worth $625,510 over the last three months. 2.64% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Garde Capital Inc. increased its position in shares of PACCAR by 6.0% during the second quarter. Garde Capital Inc. now owns 13,275 shares of the company’s stock worth $823,000 after acquiring an additional 750 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of PACCAR by 1.6% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 49,492 shares of the company’s stock worth $3,067,000 after acquiring an additional 783 shares during the period. Trustcore Financial Services LLC increased its position in shares of PACCAR by 8.1% during the first quarter. Trustcore Financial Services LLC now owns 11,112 shares of the company’s stock worth $735,000 after acquiring an additional 828 shares during the period. Lido Advisors LLC increased its position in shares of PACCAR by 13.6% during the first quarter. Lido Advisors LLC now owns 7,404 shares of the company’s stock worth $489,000 after acquiring an additional 887 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of PACCAR by 12.3% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 8,788 shares of the company’s stock worth $582,000 after acquiring an additional 962 shares during the period. 61.05% of the stock is currently owned by institutional investors.

About PACCAR

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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