PACCAR (NASDAQ:PCAR) Releases Earnings Results, Beats Expectations By $0.03 EPS

PACCAR (NASDAQ:PCAR) announced its 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 the consensus estimate of $7.66 billion. During the same quarter last year, the firm earned $2.34 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis.

PACCAR Price Performance

PCAR stock opened at $104.00 on Wednesday. The company has a market capitalization of $54.52 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. PACCAR has a one year low of $80.94 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The company’s fifty day moving average price is $98.78 and its 200-day moving average price is $103.41.

PACCAR Announces Dividend

The business 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. This represents a $1.20 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 12.71%.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of several analyst reports. Truist Financial reduced their price target on shares of PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Raymond James initiated coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Citigroup boosted their target price on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Evercore ISI reduced their price objective on 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, BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Nine investment 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, PACCAR has an average rating of “Hold” and a consensus target price of $113.82.

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.