FY2024 EPS Estimates for PACCAR Inc Lifted by Analyst (NASDAQ:PCAR)

PACCAR Inc (NASDAQ:PCAR) – Equities researchers at Zacks Research raised their FY2024 earnings per share (EPS) estimates for PACCAR in a note issued to investors on Thursday, March 28th. Zacks Research analyst R. Singhi now anticipates that the company will earn $8.40 per share for the year, up from their previous estimate of $8.27. The consensus estimate for PACCAR’s current full-year earnings is $8.13 per share.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same period in the prior year, the firm earned $1.76 earnings per share. PACCAR’s revenue for the quarter was up 11.1% on a year-over-year basis.

Other equities analysts also recently issued research reports about the company. Morgan Stanley assumed coverage on PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 price target for the company. TD Cowen increased their price target on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Truist Financial began coverage on shares of PACCAR in a report on Thursday, March 14th. They set a “hold” rating and a $117.00 price objective on the stock. Royal Bank of Canada initiated coverage on shares of PACCAR in a report on Tuesday. They issued a “sector perform” rating and a $123.00 target price for the company. Finally, Evercore ISI boosted their price target on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.39.

PACCAR Stock Performance

PCAR opened at $123.89 on Friday. The company has a market cap of $64.92 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.94 and a beta of 0.91. The company’s fifty day moving average price is $109.94 and its two-hundred day moving average price is $96.87. PACCAR has a 1-year low of $67.48 and a 1-year high of $125.50. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in PACCAR by 2.0% during the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after purchasing an additional 698,784 shares during the last quarter. State Street Corp boosted its stake in PACCAR by 49.0% in the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock worth $1,562,477,000 after buying an additional 7,020,923 shares in the last quarter. Geode Capital Management LLC grew its position in PACCAR by 53.3% during the first quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock valued at $858,948,000 after acquiring an additional 4,082,677 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of PACCAR by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock worth $730,116,000 after acquiring an additional 23,865 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of PACCAR by 6.0% in the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after purchasing an additional 316,001 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last quarter. Corporate insiders own 2.02% of the company’s stock.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.87%. PACCAR’s dividend payout ratio is presently 12.31%.

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.