PACCAR (NASDAQ:PCAR) Announces Earnings Results

PACCAR (NASDAQ:PCAR) posted its quarterly earnings data on Tuesday. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03, Briefing.com reports. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year.

PACCAR Price Performance

Shares of PACCAR stock traded up $1.04 during mid-day trading on Thursday, reaching $104.84. 2,007,661 shares of the stock traded hands, compared to its average volume of 2,795,920. The business has a 50-day moving average of $98.98 and a 200 day moving average of $103.41. The company has a quick ratio of 2.54, a current ratio of 1.91 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $54.96 billion, a PE ratio of 11.71, a PEG ratio of 1.62 and a beta of 0.91. PACCAR has a fifty-two week low of $80.94 and a fifty-two week high of $125.50.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. PACCAR’s dividend payout ratio is currently 13.41%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PCAR. Citigroup lifted their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft dropped their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI dropped their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Raymond James began coverage on shares of PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus price target of $114.18.

Insiders Place Their Bets

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

PACCAR Company Profile

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.