PACCAR (NASDAQ:PCAR) Posts Earnings Results, Beats Estimates By $0.07 EPS

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

PACCAR Stock Down 6.1 %

PCAR traded down $6.90 during trading hours on Tuesday, hitting $106.74. 1,477,706 shares of the company’s stock were exchanged, compared to its average volume of 2,337,755. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. PACCAR has a 1-year low of $68.40 and a 1-year high of $125.50. The stock’s 50-day moving average is $116.69 and its two-hundred day moving average is $102.18. The stock has a market cap of $55.93 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.68 and a beta of 0.92.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.01%. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $584,739.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 27,320 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the transaction, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,946 shares of company stock valued at $7,003,148. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Evercore ISI increased their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. upped their price objective on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Royal Bank of Canada began coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. Finally, Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $113.08.

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.