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

PACCAR Inc (NASDAQ:PCAR) – Equities researchers at Zacks Research cut their Q3 2024 earnings estimates for shares of PACCAR in a research note issued to investors on Monday, October 14th. Zacks Research analyst R. Singhi now anticipates that the company will post earnings per share of $1.82 for the quarter, down from their prior estimate 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.

A number of other research firms have also issued reports on PCAR. Citigroup raised their price target on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Truist Financial cut their target price on shares of PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft cut their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $114.00.

PACCAR Stock Performance

PCAR opened at $108.22 on Tuesday. PACCAR has a 12-month low of $80.94 and a 12-month high of $125.50. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $56.72 billion, a PE ratio of 11.23, a P/E/G ratio of 1.61 and a beta of 0.91. The firm has a 50 day moving average of $96.97 and a two-hundred day moving average of $104.02.

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

Institutional Trading of PACCAR

Institutional investors and hedge funds have recently bought and sold shares of the stock. New Covenant Trust Company N.A. purchased a new stake in shares of PACCAR during the first quarter worth approximately $27,000. Riverview Trust Co acquired a new position in PACCAR in the first quarter valued at approximately $29,000. Rise Advisors LLC acquired a new position in PACCAR in the first quarter valued at approximately $31,000. Quarry LP acquired a new position in PACCAR in the second quarter valued at approximately $26,000. Finally, Meeder Asset Management Inc. boosted its holdings in PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were 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 of the company’s stock, 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 SEC, which can be accessed through this link. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Announces Dividend

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

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.