PACCAR (NASDAQ:PCAR) Posts Earnings Results, Misses Expectations By $0.04 EPS

PACCAR (NASDAQ:PCAR) announced its earnings results on Tuesday. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04), Zacks reports. PACCAR had a net margin of 13.51% and a return on equity of 27.24%.

PACCAR Stock Up 0.9 %

Shares of NASDAQ:PCAR opened at $111.85 on Thursday. The firm has a 50 day simple moving average of $110.45 and a 200-day simple moving average of $104.45. PACCAR has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $58.64 billion, a PE ratio of 12.50, a P/E/G ratio of 2.77 and a beta of 0.93.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is presently 13.41%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PCAR. Truist Financial boosted their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley decreased their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.32.

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.