PACCAR (NASDAQ:PCAR) Posts Quarterly Earnings Results, Hits Expectations

PACCAR (NASDAQ:PCAR) posted its earnings results on Tuesday. The company reported $1.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.61, FiscalAI reports. The firm had revenue of $7.38 billion during the quarter, compared to analyst estimates of $7.48 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $104.37 on Tuesday. The company has a market capitalization of $54.94 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.23 and a beta of 0.98. The company’s 50-day moving average is $117.45 and its 200 day moving average is $120.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. PACCAR has a fifty-two week low of $93.86 and a fifty-two week high of $139.24.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 11th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 10th. PACCAR’s payout ratio is 29.41%.

Analyst Ratings Changes

A number of research firms recently weighed in on PCAR. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $164.00 to $142.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a research report on Tuesday, August 18th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 price objective (up from $142.00) on shares of PACCAR in a research note on Wednesday, July 29th. Jefferies Financial Group lifted their target price on shares of PACCAR from $120.00 to $140.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company set a $122.00 target price on PACCAR and gave the stock an “equal weight” rating in a research note on Thursday, October 8th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $133.88.

Insider Activity at PACCAR

In other news, VP Paulo Henrique Bolgar sold 2,897 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the transaction, the vice president directly owned 3,831 shares of the company’s stock, valued at $512,970.90. This represents a 43.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Lance Walters sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 56,842 shares of company stock worth $7,565,677. Insiders own 1.99% of the company’s stock.

PACCAR Company Profile

PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.