PACCAR (NASDAQ:PCAR) Posts Earnings Results, Beats Estimates By $0.07 EPS

PACCAR (NASDAQ:PCAR) released its quarterly earnings data on Tuesday. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07, Briefing.com reports. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. During the same quarter in the prior year, the business posted $1.37 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year.

PACCAR Stock Up 0.9%

Shares of NASDAQ:PCAR opened at $133.44 on Tuesday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The firm has a market cap of $70.23 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.21 and a beta of 0.97. PACCAR has a 12 month low of $92.25 and a 12 month high of $134.27. The company’s 50-day moving average price is $119.44 and its two-hundred day moving average price is $120.41.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.0%. PACCAR’s dividend payout ratio is 29.79%.

Hedge Funds Weigh In On PACCAR

Hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust lifted its stake in PACCAR by 3.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after buying an additional 87 shares in the last quarter. Inspire Advisors LLC raised its holdings in shares of PACCAR by 1.5% during the fourth quarter. Inspire Advisors LLC now owns 7,458 shares of the company’s stock worth $817,000 after acquiring an additional 113 shares during the period. L2 Asset Management LLC raised its holdings in shares of PACCAR by 5.2% during the third quarter. L2 Asset Management LLC now owns 2,467 shares of the company’s stock worth $243,000 after acquiring an additional 122 shares during the period. Financial Engines Advisors L.L.C. lifted its position in PACCAR by 4.9% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 2,893 shares of the company’s stock valued at $284,000 after acquiring an additional 134 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in PACCAR by 3.3% in the 2nd quarter. Lazard Asset Management LLC now owns 4,564 shares of the company’s stock worth $433,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PCAR shares. Truist Financial increased their price target on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. upped their price objective on PACCAR from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Citigroup restated a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Finally, Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $124.50.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.