PACCAR (NASDAQ:PCAR) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

PACCAR (NASDAQ:PCAR - Get Free Report) released its earnings results on Tuesday. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.03, Briefing.com reports. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm's quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 EPS.

PACCAR Trading Down 4.4 %

Shares of PCAR stock opened at $104.79 on Wednesday. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. PACCAR has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The firm's 50 day moving average price is $98.78 and its two-hundred day moving average price is $103.41. The stock has a market cap of $54.93 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.15%. PACCAR's payout ratio is 12.71%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PACCAR from $121.00 to $109.00 and set a "buy" rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price target on PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research note on Wednesday. Morgan Stanley lowered their price objective on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a research report on Wednesday. Citigroup increased their target price on PACCAR from $100.00 to $108.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Finally, Raymond James began coverage on PACCAR in a report on Friday, June 28th. They issued a "market perform" rating for the company. Nine equities research 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.com, PACCAR presently has a consensus rating of "Hold" and an average price target of $113.82.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.02% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.