PACCAR (NASDAQ:PCAR) Announces Earnings Results

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

PACCAR Stock Up 0.6 %

PCAR stock opened at $107.00 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.69 and a quick ratio of 2.21. PACCAR has a 1-year low of $68.40 and a 1-year high of $125.50. The firm has a fifty day moving average price of $116.62 and a two-hundred day moving average price of $102.36. The firm has a market cap of $56.07 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.59 and a beta of 0.96.

PACCAR Increases Dividend

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

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, 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 completion of the transaction, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. Insiders sold a total of 62,117 shares of company stock worth $6,510,010 over the last 90 days. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of recent research reports. TD Cowen boosted their target price 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. Morgan Stanley initiated coverage on shares of PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 target price on the stock. Royal Bank of Canada initiated 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 on the stock. Truist Financial initiated coverage on shares of PACCAR in a research report on Thursday, March 14th. They set a “hold” rating and a $117.00 target price on the stock. Finally, UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PACCAR has an average rating of “Moderate Buy” and an average target price of $112.31.

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.