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

PACCAR (NASDAQ:PCAR) released its quarterly earnings results on Tuesday. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03, Briefing.com reports. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the previous year, the firm posted $2.34 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year.

PACCAR Stock Down 4.4 %

PACCAR stock opened at $104.79 on Wednesday. The firm has a market capitalization of $54.93 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.70 and a beta of 0.91. The company has a 50-day simple moving average of $98.78 and a 200-day simple moving average of $103.41. 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.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 12.71%.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial dropped their target price 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. Citigroup lifted their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $113.82.

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.