PACCAR (NASDAQ:PCAR – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01), Briefing.com reports. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 30.53% and a net margin of 14.07%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 EPS.
PACCAR Trading Down 1.0 %
NASDAQ PCAR traded down $0.96 during trading hours on Thursday, hitting $97.94. The company’s stock had a trading volume of 1,669,273 shares, compared to its average volume of 2,606,169. The stock has a fifty day moving average of $105.63 and a 200 day moving average of $108.57. PACCAR has a twelve month low of $80.94 and a twelve month high of $125.50. The firm has a market capitalization of $51.34 billion, a P/E ratio of 10.26, a PEG ratio of 1.16 and a beta of 0.92. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54.
PACCAR Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 1.23%. PACCAR’s dividend payout ratio is currently 12.45%.
Insider Activity at PACCAR
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday. Raymond James assumed coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. The Goldman Sachs Group lifted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $112.25.
Check Out Our Latest Analysis on PCAR
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.
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