Analysts Offer Predictions for PACCAR Inc’s FY2024 Earnings (NASDAQ:PCAR)

PACCAR Inc (NASDAQ:PCAR) – Research analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for PACCAR in a note issued to investors on Thursday, March 28th. Zacks Research analyst R. Singhi now anticipates that the company will post earnings of $8.40 per share for the year, up from their previous forecast of $8.27. The consensus estimate for PACCAR’s current full-year earnings is $8.13 per share.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the previous year, the business earned $1.76 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis.

A number of other research firms have also recently commented on PCAR. JPMorgan Chase & Co. upped their price objective on PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. TD Cowen upped their price objective on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. The Goldman Sachs Group upped their price objective on PACCAR from $93.00 to $106.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Royal Bank of Canada began coverage on PACCAR in a research note on Tuesday. They set a “sector perform” rating and a $123.00 price target for the company. Finally, Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and increased their price target for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.39.

PACCAR Stock Down 0.5 %

PCAR stock opened at $123.89 on Friday. PACCAR has a 1-year low of $67.48 and a 1-year high of $125.50. The business has a fifty day moving average price of $109.94 and a 200-day moving average price of $96.87. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. The stock has a market capitalization of $64.92 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.94 and a beta of 0.91.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. AdvisorNet Financial Inc raised its position in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of PACCAR in the 3rd quarter valued at about $26,000. ST Germain D J Co. Inc. boosted its position in shares of PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares during the period. Arlington Trust Co LLC acquired a new stake in shares of PACCAR in the 3rd quarter valued at about $30,000. Finally, ORG Partners LLC increased its holdings in shares of PACCAR by 6,200.0% in the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after acquiring an additional 372 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,320 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO R Preston Feight sold 27,320 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is owned by corporate insiders.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.87%. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

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.