PACCAR (NASDAQ:PCAR) Releases Earnings Results, Misses Estimates By $0.01 EPS

PACCAR (NASDAQ:PCAR) released its quarterly earnings results on Tuesday. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01), Briefing.com reports. PACCAR had a return on equity of 30.53% and a net margin of 14.07%. The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same quarter last year, the business earned $2.33 earnings per share. The business’s quarterly revenue was down 2.1% on a year-over-year basis.

PACCAR Price Performance

PCAR stock traded down $1.30 during trading on Thursday, hitting $97.60. The stock had a trading volume of 5,205,978 shares, compared to its average volume of 2,631,800. PACCAR has a twelve month low of $80.94 and a twelve month high of $125.50. The company’s 50-day moving average price is $105.63 and its two-hundred day moving average price is $108.57. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The stock has a market capitalization of $51.16 billion, a P/E ratio of 10.17, a PEG ratio of 1.16 and a beta of 0.92.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s payout ratio is 12.45%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PCAR. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday. 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. Truist Financial dropped their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $112.25.

Insider Buying and Selling

In related news, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,040 shares of company stock worth $4,779,241. 2.02% of the stock is 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.