PACCAR (NASDAQ:PCAR) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

PACCAR (NASDAQ:PCAR) released its earnings results on Tuesday. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03, Briefing.com reports. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 EPS.

PACCAR Trading Down 4.4 %

Shares of PCAR stock opened at $104.79 on Wednesday. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. PACCAR has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The firm’s 50 day moving average price is $98.78 and its two-hundred day moving average price is $103.41. The stock has a market cap of $54.93 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91.

PACCAR Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday. Morgan Stanley lowered their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup increased their target price on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Raymond James began coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average price target of $113.82.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.02% of the company’s stock.

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.