PACCAR (NASDAQ:PCAR) Announces Earnings Results

PACCAR (NASDAQ:PCAR) issued its earnings results on Tuesday. The company reported $1.61 EPS for the quarter, meeting analysts’ consensus estimates of $1.61, FiscalAI reports. The company had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $7.48 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%. PACCAR’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 earnings per share.

PACCAR Trading Down 2.4%

NASDAQ:PCAR opened at $104.37 on Tuesday. PACCAR has a 1 year low of $93.86 and a 1 year high of $139.24. The stock has a market cap of $54.94 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.23 and a beta of 0.98. The business has a fifty day moving average of $117.45 and a 200-day moving average of $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 Dividend Announcement

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

Insider Activity at PACCAR

In related news, CEO R Feight sold 50,975 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the sale, the chief executive officer owned 268,625 shares of the company’s stock, valued at $35,745,928.75. This represents a 15.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brice J. Poplawski sold 1,970 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the sale, the chief financial officer directly owned 1,391 shares of the company’s stock, valued at $184,307.50. The trade was a 58.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,842 shares of company stock valued at $7,565,677 in the last ninety days. Company insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the topic of several recent research reports. Royal Bank Of Canada raised PACCAR from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $130.00 to $150.00 in a report on Thursday, September 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $148.00 target price (up from $142.00) on shares of PACCAR in a research report on Wednesday, July 29th. Morgan Stanley set a $125.00 target price on PACCAR and gave the company an “equal weight” rating in a research note on Friday, September 4th. Evercore boosted their price target on shares of PACCAR from $139.00 to $162.00 and gave the company an “outperform” rating in a report on Thursday, October 8th. Finally, JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $164.00 to $142.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and a consensus target price of $133.88.

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.