PACCAR Inc. (PCAR) Announces Quarterly Earnings Results
PACCAR Inc. (NASDAQ:PCAR) released its quarterly earnings data on Tuesday. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06, Bloomberg Earnings reports. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. PACCAR’s revenue for the quarter was up 19.7% on a year-over-year basis.
Shares of PACCAR (NASDAQ PCAR) opened at 74.65 on Tuesday. PACCAR has a 12 month low of $53.38 and a 12 month high of $75.68. The firm has a market cap of $26.23 billion, a P/E ratio of 19.98 and a beta of 1.17. The company has a 50-day moving average of $71.47 and a 200-day moving average of $67.06.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be given a $0.25 dividend. The ex-dividend date is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. PACCAR’s payout ratio is currently 26.74%.
Several equities analysts have issued reports on PCAR shares. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Tuesday, September 5th. J P Morgan Chase & Co upgraded shares of PACCAR from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $83.00 in a research note on Wednesday, October 4th. BidaskClub upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Robert W. Baird restated a “hold” rating and issued a $80.00 price objective on shares of PACCAR in a research note on Thursday, October 12th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $78.00 price objective (up previously from $75.00) on shares of PACCAR in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. PACCAR has a consensus rating of “Hold” and an average target price of $75.84.
In related news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the sale, the insider now owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.64% of the stock is owned by corporate insiders.
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PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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