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

PACCAR (NASDAQ:PCAR) posted its earnings results on Tuesday. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07, Briefing.com reports. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.25 earnings per share.

PACCAR Stock Up 0.6 %

PCAR stock opened at $107.00 on Thursday. The stock has a market capitalization of $56.07 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.59 and a beta of 0.96. The firm has a 50-day simple moving average of $116.62 and a 200-day simple moving average of $102.36. The company has a quick ratio of 2.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.54. PACCAR has a 52 week low of $68.40 and a 52 week high of $125.50.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is currently 11.20%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank of Canada assumed coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. TD Cowen upped their price objective on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Evercore ISI upped their price objective on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.31.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 27,320 shares of the company’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 sale, the chief executive officer now directly owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,117 shares of company stock valued at $6,510,010. Corporate insiders own 2.02% of the company’s stock.

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.