Seaport Global Securities Weighs in on PACCAR Inc.’s Q3 2019 Earnings (PCAR)
PACCAR Inc. (NASDAQ:PCAR) – Investment analysts at Seaport Global Securities issued their Q3 2019 earnings estimates for PACCAR in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst R. Wood expects that the company will earn $1.29 per share for the quarter. Seaport Global Securities currently has a “Neutral” rating on the stock.
A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Tuesday, September 5th. Buckingham Research started coverage on shares of PACCAR in a research report on Tuesday, September 5th. They set a “neutral” rating and a $65.00 price objective for the company. ValuEngine raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Citigroup Inc. increased their price objective on shares of PACCAR from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of PACCAR in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $75.95.
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Shares of PACCAR (PCAR) traded down 0.29% during mid-day trading on Friday, reaching $71.87. 2,364,713 shares of the company’s stock traded hands. The stock has a market capitalization of $25.25 billion, a PE ratio of 19.24 and a beta of 1.18. PACCAR has a 12-month low of $53.38 and a 12-month high of $75.68. The company’s 50-day moving average price is $71.57 and its 200-day moving average price is $67.10.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.06. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share.
Several institutional investors and hedge funds have recently made changes to their positions in PCAR. Principal Financial Group Inc. raised its holdings in shares of PACCAR by 381.5% in the 2nd quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock valued at $169,932,000 after purchasing an additional 2,038,761 shares in the last quarter. BlackRock Inc. raised its holdings in shares of PACCAR by 6.6% in the 2nd quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock valued at $1,684,572,000 after purchasing an additional 1,572,038 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of PACCAR in the 2nd quarter valued at $82,298,000. Vanguard Group Inc. raised its holdings in shares of PACCAR by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock valued at $1,621,636,000 after purchasing an additional 1,164,896 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of PACCAR by 59.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,660,654 shares of the company’s stock valued at $175,710,000 after purchasing an additional 991,171 shares in the last quarter. Institutional investors and hedge funds own 62.17% of the company’s stock.
In other news, insider T. Kyle Quinn sold 2,786 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total value of $189,141.54. Following the sale, the insider now directly owns 20,800 shares in the company, valued at approximately $1,412,112. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.64% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. PACCAR’s payout ratio is 25.64%.
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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