According to Zacks, “Earnings estimates for PACCAR have remained stable of late. PACCAR holds a strong market share in the U.S. and Canada. Moreover, the company is well positioned in the key non-U.S. markets, backed by its strategic investments. Further, PACCAR follows an active capital deployment policy to boost earnings. The company raised its outlook for industry sales in Europe and modified the same for the U.S. and Canada. However, PACCAR is likely to be affected by the expected decline in Class 8 industry retail sales in the U.S. and Canada this year. It is also facing competition in the commercial trucks market.”
PCAR has been the subject of a number of other reports. Bank of America Corp. reiterated a buy rating on shares of Paccar in a research report on Thursday, June 16th. Barclays PLC upped their price objective on shares of Paccar from $47.00 to $50.00 and gave the stock an underweight rating in a research report on Wednesday. Jefferies Group upped their price objective on shares of Paccar from $65.00 to $70.00 and gave the stock a buy rating in a research report on Thursday, September 1st. JPMorgan Chase & Co. cut shares of Paccar from a neutral rating to an underweight rating and lowered their price objective for the stock from $58.00 to $47.00 in a research report on Monday, June 27th. Finally, Credit Agricole SA began coverage on shares of Paccar in a research report on Friday, September 30th. They set an outperform rating and a $65.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $56.33.
Paccar (NASDAQ:PCAR) traded up 0.21% during midday trading on Thursday, reaching $56.81. 319,903 shares of the company’s stock traded hands. The firm has a market cap of $19.91 billion, a price-to-earnings ratio of 30.15 and a beta of 1.51. The stock’s 50 day moving average price is $58.18 and its 200 day moving average price is $56.23. Paccar has a 1-year low of $43.46 and a 1-year high of $60.86.
Paccar (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.04. The business earned $4.12 billion during the quarter, compared to analysts’ expectations of $4.17 billion. Paccar had a net margin of 3.71% and a return on equity of 21.92%. The firm’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 EPS. Equities research analysts anticipate that Paccar will post $3.98 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 16th. This represents a $0.96 annualized dividend and a yield of 1.69%. Paccar’s payout ratio is 51.34%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCAR. NN Investment Partners Holdings N.V. acquired a new position in Paccar during the first quarter valued at $111,000. Assetmark Inc. acquired a new position in Paccar during the second quarter valued at $128,000. Raymond James Trust N.A. acquired a new position in Paccar during the third quarter valued at $216,000. Advisor Group Inc. acquired a new position in Paccar during the second quarter valued at $222,000. Finally, Meeder Asset Management Inc. acquired a new position in Paccar during the first quarter valued at $224,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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