PACCAR (NASDAQ:PCAR) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS

PACCAR (NASDAQ:PCAR) announced its quarterly earnings data on Tuesday. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04), Zacks reports. PACCAR had a net margin of 13.51% and a return on equity of 27.24%.

PACCAR Price Performance

PCAR stock opened at $111.85 on Thursday. The firm has a market cap of $58.64 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. PACCAR has a 1 year low of $90.04 and a 1 year high of $125.50. The stock has a 50-day simple moving average of $110.45 and a 200-day simple moving average of $104.45.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is currently 13.41%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup lowered their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Truist Financial increased their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $121.32.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.02% of the stock is currently owned by corporate insiders.

About PACCAR

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.