Q3 2024 EPS Estimates for PACCAR Inc Decreased by Analyst (NASDAQ:PCAR)

PACCAR Inc (NASDAQ:PCAR) – Research analysts at Zacks Research reduced their Q3 2024 earnings per share estimates for PACCAR in a report issued on Monday, October 14th. Zacks Research analyst R. Singhi now expects that the company will earn $1.82 per share for the quarter, down from their prior forecast of $1.83. The consensus estimate for PACCAR’s current full-year earnings is $8.08 per share. Zacks Research also issued estimates for PACCAR’s Q4 2024 earnings at $1.90 EPS, FY2024 earnings at $8.12 EPS, Q1 2025 earnings at $2.10 EPS, Q2 2025 earnings at $2.07 EPS, Q3 2025 earnings at $1.93 EPS, Q4 2025 earnings at $1.98 EPS, FY2025 earnings at $8.09 EPS, Q1 2026 earnings at $2.25 EPS, Q2 2026 earnings at $2.24 EPS, Q3 2026 earnings at $2.19 EPS and FY2026 earnings at $8.91 EPS.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. PACCAR’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 earnings per share.

Other equities research analysts also recently issued reports about the company. Evercore ISI cut their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Truist Financial cut their price objective on PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on PACCAR from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $114.00.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $108.22 on Tuesday. 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 stock has a fifty day moving average price of $96.97 and a 200 day moving average price of $104.02. PACCAR has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a market cap of $56.72 billion, a PE ratio of 11.23, a P/E/G ratio of 1.61 and a beta of 0.91.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.11%. PACCAR’s dividend payout ratio is presently 12.45%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On PACCAR

A number of institutional investors have recently made changes to their positions in PCAR. Quarry LP bought a new stake in shares of PACCAR in the 2nd quarter valued at approximately $26,000. New Covenant Trust Company N.A. acquired a new position in PACCAR during the 1st quarter worth $27,000. Riverview Trust Co acquired a new position in PACCAR during the 1st quarter worth $29,000. Meeder Asset Management Inc. boosted its position in PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the period. Finally, Rise Advisors LLC acquired a new position in PACCAR during the 1st quarter worth $31,000. 64.90% of the stock is currently owned by institutional investors.

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.