Zacks: Analysts Expect PACCAR Inc (NASDAQ:PCAR) Will Announce Earnings of $1.65 Per Share

Wall Street analysts expect that PACCAR Inc (NASDAQ:PCAR) will announce earnings per share of $1.65 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for PACCAR’s earnings, with the highest EPS estimate coming in at $1.79 and the lowest estimate coming in at $1.58. PACCAR reported earnings of $1.55 per share during the same quarter last year, which indicates a positive year over year growth rate of 6.5%. The firm is expected to issue its next quarterly earnings results on Tuesday, October 22nd.

On average, analysts expect that PACCAR will report full year earnings of $6.77 per share for the current fiscal year, with EPS estimates ranging from $6.53 to $7.10. For the next financial year, analysts forecast that the business will report earnings of $5.90 per share, with EPS estimates ranging from $5.50 to $6.80. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for PACCAR.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.04). PACCAR had a return on equity of 25.99% and a net margin of 9.43%. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the prior year, the company posted $1.59 EPS. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year.

Several research firms have issued reports on PCAR. BidaskClub downgraded PACCAR from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised PACCAR from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $87.00 to $66.00 in a report on Wednesday, July 24th. BMO Capital Markets upped their price objective on PACCAR to $70.00 and gave the stock a “market perform” rating in a report on Friday, May 17th. Morgan Stanley upped their price objective on PACCAR from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Finally, Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. PACCAR currently has a consensus rating of “Hold” and an average target price of $68.89.

In other PACCAR news, VP C Michael Dozier sold 12,638 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $69.17, for a total transaction of $874,170.46. Following the completion of the sale, the vice president now owns 8,401 shares in the company, valued at approximately $581,097.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darrin C. Siver sold 5,067 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $70.10, for a total transaction of $355,196.70. Following the sale, the insider now owns 23,193 shares of the company’s stock, valued at approximately $1,625,829.30. The disclosure for this sale can be found here. Insiders have sold a total of 18,553 shares of company stock valued at $1,290,135 in the last quarter. Corporate insiders own 2.32% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC raised its position in shares of PACCAR by 32.9% during the 1st quarter. Parallel Advisors LLC now owns 1,717 shares of the company’s stock valued at $117,000 after acquiring an additional 425 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of PACCAR by 9.2% in the 1st quarter. New York State Common Retirement Fund now owns 963,868 shares of the company’s stock valued at $65,678,000 after buying an additional 80,968 shares in the last quarter. Kennedy Capital Management Inc. increased its position in shares of PACCAR by 3.7% in the 1st quarter. Kennedy Capital Management Inc. now owns 71,757 shares of the company’s stock valued at $4,890,000 after buying an additional 2,584 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its position in shares of PACCAR by 11.8% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 7,551 shares of the company’s stock valued at $515,000 after buying an additional 798 shares in the last quarter. Finally, Lido Advisors LLC increased its position in shares of PACCAR by 48.0% in the 1st quarter. Lido Advisors LLC now owns 18,369 shares of the company’s stock valued at $1,251,000 after buying an additional 5,958 shares in the last quarter. Institutional investors own 63.60% of the company’s stock.

NASDAQ:PCAR traded up $0.78 during trading hours on Friday, hitting $64.48. 1,477,600 shares of the stock were exchanged, compared to its average volume of 1,974,989. The company’s 50 day moving average is $69.25 and its two-hundred day moving average is $68.91. PACCAR has a twelve month low of $53.43 and a twelve month high of $73.00. The company has a quick ratio of 2.26, a current ratio of 2.43 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $21.94 billion, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 1.11 and a beta of 1.25.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Tuesday, August 13th. PACCAR’s payout ratio is 20.51%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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