PACCAR (NASDAQ:PCAR) Announces Earnings Results, Beats Expectations By $0.07 EPS

PACCAR (NASDAQ:PCAR) announced its earnings results on Tuesday. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07, Briefing.com reports. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the prior year, the firm earned $2.25 EPS. PACCAR’s quarterly revenue was up 2.3% on a year-over-year basis.

PACCAR Stock Down 6.4 %

NASDAQ:PCAR traded down $7.30 during trading hours on Tuesday, hitting $106.34. The stock had a trading volume of 820,724 shares, compared to its average volume of 2,331,670. The company has a market cap of $55.72 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.68 and a beta of 0.92. The business has a 50 day simple moving average of $116.69 and a two-hundred day simple moving average of $102.18. PACCAR has a 1-year low of $68.40 and a 1-year high of $125.50. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

Insider Transactions at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now owns 5,726 shares in the company, valued at approximately $607,814.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,946 shares of company stock valued at $7,003,148. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, April 15th. TD Cowen boosted their price target on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Finally, Morgan Stanley started coverage on PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and a consensus target price of $113.08.

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.