PACCAR (NASDAQ:PCAR) Releases Quarterly Earnings Results, Meets Expectations

Key Points

• PACCAR met earnings expectations, reporting quarterly EPS of $1.61, while revenue of $7.38 billion fell short of the $7.48 billion consensus estimate.
• The stock opened at $104.37, down 2.4%, amid a consensus analyst rating of “Hold” and an average price target of $133.88.
• PACCAR declared a quarterly dividend of $0.35 per share, representing an annualized dividend of $1.40 and a 1.3% yield; insiders have sold roughly $7.6 million of stock over the past 90 days.

PACCAR (NASDAQ:PCAR - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $1.61 earnings per share for the quarter, hitting the consensus estimate of $1.61, FiscalAI reports. The business had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $7.48 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.

PACCAR Stock Down 2.4%

PACCAR stock opened at $104.37 on Tuesday. The firm has a market capitalization of $54.94 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.23 and a beta of 0.98. The firm's fifty day moving average price is $117.45 and its two-hundred day moving average price is $120.52. PACCAR has a 1-year low of $93.86 and a 1-year high of $139.24. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 11th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 10th. PACCAR's dividend payout ratio (DPR) is 29.41%.

Insider Buying and Selling at PACCAR

In related news, CFO Brice J. Poplawski sold 1,970 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the transaction, the chief financial officer owned 1,391 shares of the company's stock, valued at approximately $184,307.50. This trade represents a 58.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 56,842 shares of company stock valued at $7,565,677. Insiders own 1.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BNP Paribas Exane cut their target price on PACCAR from $136.00 to $107.00 and set a "neutral" rating on the stock in a report on Tuesday, October 6th. Weiss Ratings reissued a "hold (c+)" rating on shares of PACCAR in a research note on Tuesday, August 18th. Sanford C. Bernstein restated an "outperform" rating and set a $148.00 price objective (up from $142.00) on shares of PACCAR in a research report on Wednesday, July 29th. Morgan Stanley set a $125.00 price objective on PACCAR and gave the stock an "equal weight" rating in a research note on Friday, September 4th. Finally, Jefferies Financial Group upped their target price on PACCAR from $120.00 to $140.00 and gave the company a "hold" rating in a report on Wednesday, July 29th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, PACCAR currently has a consensus rating of "Hold" and an average target price of $133.88.

PACCAR Company Profile

PACCAR Inc NASDAQ: PCAR is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company's operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.

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