Q2 2023 EPS Estimates for PACCAR Inc Decreased by Zacks Research (NASDAQ:PCAR)

Posted by Defense World Staff on Jul 20th, 2023

PACCAR Inc (NASDAQ:PCAR – Free Report) – Investment analysts at Zacks Research lowered their Q2 2023 EPS estimates for PACCAR in a research note issued on Tuesday, July 18th. Zacks Research analyst R. Singhi now expects that the company will post earnings of $1.99 per share for the quarter, down from their previous forecast of $2.00. The consensus estimate for PACCAR’s current full-year earnings is $7.84 per share. Zacks Research also issued estimates for PACCAR’s Q3 2023 earnings at $1.82 EPS, Q2 2024 earnings at $1.53 EPS, Q3 2024 earnings at $1.60 EPS, Q4 2024 earnings at $1.69 EPS and Q1 2025 earnings at $1.85 EPS.

PACCAR (NASDAQ:PCAR – Get Free Report) last announced its earnings results on Tuesday, April 25th. The company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.43. PACCAR had a net margin of 10.20% and a return on equity of 27.38%. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.79 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The business’s revenue for the quarter was up 31.8% on a year-over-year basis.

A number of other research firms have also weighed in on PCAR. Deutsche Bank Aktiengesellschaft upped their target price on shares of PACCAR from $70.00 to $72.00 and gave the stock a “hold” rating in a research note on Wednesday, April 12th. OTR Global lowered PACCAR to a “positive” rating in a research note on Wednesday, April 12th. 888 reiterated a “maintains” rating on shares of PACCAR in a report on Thursday, April 27th. Credit Suisse Group increased their target price on PACCAR from $75.00 to $84.00 in a research report on Wednesday, April 26th. Finally, Jefferies Financial Group upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $66.35.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $89.01 on Wednesday. PACCAR has a one year low of $54.64 and a one year high of $89.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The firm has a fifty day moving average of $77.81 and a 200 day moving average of $69.18. The firm has a market cap of $46.51 billion, a PE ratio of 14.80, a PEG ratio of 1.12 and a beta of 0.96.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 17th will be paid a $0.27 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, August 16th. This represents a $1.08 annualized dividend and a yield of 1.21%. PACCAR’s dividend payout ratio is currently 16.63%.

Insider Activity

In other news, VP Michael T. Barkley sold 25,072 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $75.50, for a total value of $1,892,936.00. Following the completion of the transaction, the vice president now directly owns 51,565 shares in the company, valued at approximately $3,893,157.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Todd R. Hubbard sold 2,442 shares of the business’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $74.85, for a total transaction of $182,783.70. Following the completion of the transaction, the vice president now directly owns 3,230 shares in the company, valued at approximately $241,765.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael T. Barkley sold 25,072 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $75.50, for a total transaction of $1,892,936.00. Following the sale, the vice president now owns 51,565 shares of the company’s stock, valued at $3,893,157.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,529 shares of company stock valued at $7,062,964. 2.06% of the stock is owned by insiders.

Institutional Trading of PACCAR

A number of institutional investors have recently modified their holdings of the company. Marshall & Sullivan Inc. WA bought a new stake in shares of PACCAR during the fourth quarter valued at approximately $30,000. Motco bought a new position in PACCAR in the 4th quarter worth about $35,000. MV Capital Management Inc. lifted its position in PACCAR by 66.4% during the first quarter. MV Capital Management Inc. now owns 351 shares of the company’s stock valued at $26,000 after acquiring an additional 140 shares during the last quarter. Avalon Trust Co acquired a new position in PACCAR during the 1st quarter valued at approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in PACCAR during the fourth quarter valued at $38,000. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Company Profile

(Get Free Report)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.