$1.56 Earnings Per Share Expected for PACCAR Inc (PCAR) This Quarter

Wall Street analysts expect PACCAR Inc (NASDAQ:PCAR) to report earnings of $1.56 per share for the current quarter, Zacks reports. Six analysts have issued estimates for PACCAR’s earnings, with the highest EPS estimate coming in at $1.61 and the lowest estimate coming in at $1.50. PACCAR posted earnings of $1.18 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 32.2%. The firm is scheduled to report its next quarterly earnings report on Tuesday, January 29th.

According to Zacks, analysts expect that PACCAR will report full-year earnings of $6.16 per share for the current fiscal year, with EPS estimates ranging from $6.09 to $6.20. For the next fiscal year, analysts anticipate that the business will post earnings of $6.24 per share, with EPS estimates ranging from $5.80 to $6.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow PACCAR.

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

PCAR has been the subject of several research reports. BidaskClub upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. ValuEngine upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Credit Suisse Group cut their price objective on PACCAR from $69.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, October 24th. Argus lowered PACCAR from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered PACCAR from a “buy” rating to a “hold” rating in a research note on Wednesday. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company. PACCAR has a consensus rating of “Hold” and an average price target of $69.02.

In other news, VP Douglas S. Grandstaff sold 607 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $59.67, for a total value of $36,219.69. Following the completion of the sale, the vice president now directly owns 5,284 shares in the company, valued at $315,296.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark C. Pigott sold 194,004 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were 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 disclosure for this sale can be found here. Insiders sold 195,262 shares of company stock valued at $11,490,110 over the last 90 days. Company insiders own 2.64% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in PACCAR by 5,888.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,036 shares of the company’s stock valued at $126,000 after acquiring an additional 2,002 shares during the last quarter. Amussen Hunsaker Associates LLC acquired a new position in PACCAR in the second quarter valued at approximately $132,000. Valeo Financial Advisors LLC lifted its holdings in PACCAR by 85.5% in the third quarter. Valeo Financial Advisors LLC now owns 2,148 shares of the company’s stock valued at $123,000 after acquiring an additional 990 shares during the last quarter. HighPoint Advisor Group LLC acquired a new position in PACCAR in the third quarter valued at approximately $178,000. Finally, Boltwood Capital Management acquired a new position in PACCAR in the third quarter valued at approximately $204,000. Hedge funds and other institutional investors own 60.57% of the company’s stock.

NASDAQ:PCAR traded down $1.49 during trading hours on Friday, hitting $57.09. 2,223,975 shares of the stock were exchanged, compared to its average volume of 1,848,127. PACCAR has a 52-week low of $53.95 and a 52-week 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 $20.53 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 0.88 and a beta of 1.41.

The business also recently declared a dividend, which will be paid on Friday, January 4th. Stockholders 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 (DPR) is presently 26.29%.

PACCAR announced that its board has initiated a share repurchase plan on Tuesday, December 4th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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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