PACCAR (NASDAQ:PCAR) Announces Quarterly Earnings Results

PACCAR (NASDAQ:PCAR) issued its earnings results on Tuesday. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01), Briefing.com reports. The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a return on equity of 30.53% and a net margin of 14.07%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.33 EPS.

PACCAR Stock Down 1.3 %

PCAR traded down $1.30 during midday trading on Thursday, hitting $97.60. 5,205,978 shares of the company’s stock traded hands, compared to its average volume of 2,631,800. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. PACCAR has a one year low of $80.94 and a one year high of $125.50. The stock’s fifty day simple moving average is $105.63 and its 200-day simple moving average is $108.57. The company has a market cap of $51.16 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.23%. PACCAR’s dividend payout ratio is 12.45%.

Analyst Ratings Changes

A number of research firms have recently commented on PCAR. Truist Financial cut their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. lowered their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Citigroup initiated coverage on shares of PACCAR in a research report on Wednesday, June 26th. They set a “neutral” rating and a $115.00 price target for the company. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $112.25.

Insiders Place Their Bets

In other news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael K. Walton sold 9,123 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock valued at $4,779,241 over the last 90 days. 2.02% of the stock is currently owned by company insiders.

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.