PACCAR (NASDAQ:PCAR) Releases Earnings Results, Misses Estimates By $0.04 EPS

PACCAR (NASDAQ:PCAR) announced its quarterly earnings results on Tuesday. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04), Zacks reports. PACCAR had a return on equity of 27.24% and a net margin of 13.51%.

PACCAR Stock Performance

PACCAR stock opened at $107.25 on Wednesday. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a market capitalization of $56.23 billion, a PE ratio of 11.98, a P/E/G ratio of 2.77 and a beta of 0.93. The company has a 50 day moving average price of $110.45 and a 200-day moving average price of $104.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Truist Financial lifted their target price on PACCAR from $110.00 to $112.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and increased their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Citigroup dropped their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.23.

About PACCAR

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.