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

PACCAR (NASDAQ:PCAR) posted its quarterly earnings data on Tuesday. The company reported $1.85 EPS for the quarter, beating 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 the consensus estimate of $7.66 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. PACCAR’s revenue for the quarter was down 5.2% on a year-over-year basis.

PACCAR Stock Performance

Shares of PCAR stock opened at $104.00 on Wednesday. The company has a market capitalization of $54.52 billion, a P/E ratio of 11.10, a PEG ratio of 1.70 and a beta of 0.91. 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 stock has a 50 day moving average price of $98.78 and a two-hundred day moving average price of $103.41. PACCAR has a fifty-two week low of $80.94 and a fifty-two week high of $125.50.

PACCAR Announces Dividend

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

Wall Street Analyst Weigh In

PCAR has been the topic of a number of recent research reports. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Citigroup lifted their target price on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Raymond James assumed coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Evercore ISI reduced their price objective on shares of 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, StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, PACCAR presently has an average rating of “Hold” and an average price target of $113.82.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,834 shares of the 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 completion of the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.