PACCAR (NASDAQ:PCAR) Announces Quarterly Earnings Results

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

PACCAR Stock Performance

NASDAQ:PCAR opened at $104.79 on Wednesday. PACCAR has a 12 month low of $80.94 and a 12 month high of $125.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The firm has a market capitalization 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 business’s fifty day moving average price is $98.78 and its 200 day moving average price is $103.41.

PACCAR Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on PCAR shares. Deutsche Bank Aktiengesellschaft cut 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. JPMorgan Chase & Co. lowered their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday. Raymond James began coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Evercore ISI lowered their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Citigroup increased their target price on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $113.82.

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.