PACCAR (NASDAQ:PCAR) Posts Quarterly Earnings Results

PACCAR (NASDAQ:PCAR) posted its earnings results on Tuesday. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03, Briefing.com reports. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.34 earnings per share.

PACCAR Stock Down 4.4 %

PACCAR stock opened at $104.79 on Wednesday. The stock’s 50 day moving average price is $98.78 and its 200 day moving average price is $103.41. PACCAR has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a market cap of $54.93 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 12.71%.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PCAR shares. Citigroup raised their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Morgan Stanley cut their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $113.82.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.