Zacks Research Weighs in on PACCAR Inc’s FY2024 Earnings (NASDAQ:PCAR)

PACCAR Inc (NASDAQ:PCAR) – Stock analysts at Zacks Research lifted their FY2024 EPS estimates for PACCAR in a report released on Thursday, March 28th. Zacks Research analyst R. Singhi now expects that the company will post earnings per share of $8.40 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 released its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same period in the previous year, the business earned $1.76 EPS. PACCAR’s revenue was up 11.1% compared to the same quarter last year.

A number of other analysts also recently weighed in on PCAR. Truist Financial initiated coverage on PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price for the company. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. The Goldman Sachs Group upped their price target on shares of PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Evercore ISI lifted their price objective on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Finally, Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.39.

PACCAR Stock Performance

Shares of PCAR opened at $123.89 on Friday. The stock has a 50-day moving average price of $109.94 and a 200-day moving average price of $96.87. The company has a market cap of $64.92 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. PACCAR has a 12-month low of $67.48 and a 12-month high of $125.50.

PACCAR Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now owns 145,495 shares in the company, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 in the last three months. 2.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On PACCAR

Several institutional investors have recently made changes to their positions in PCAR. HighPoint Advisor Group LLC bought a new position in PACCAR during the 4th quarter valued at about $1,203,000. Wahed Invest LLC lifted its stake in shares of PACCAR by 8.5% during the 4th quarter. Wahed Invest LLC now owns 8,751 shares of the company’s stock worth $855,000 after acquiring an additional 683 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of PACCAR during the 4th quarter worth approximately $51,000. SageView Advisory Group LLC purchased a new position in PACCAR during the 4th quarter valued at $320,000. Finally, Fisher Asset Management LLC grew its position in PACCAR by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock valued at $479,466,000 after acquiring an additional 83,444 shares during the last quarter. Institutional investors own 64.90% 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.