PACCAR Inc. (NASDAQ:PCAR) to Issue $0.33 Quarterly Dividend

PACCAR Inc. (NASDAQ:PCAR) declared a quarterly dividend on Tuesday, December 9th. Stockholders of record on Wednesday, February 11th will be given a dividend of 0.33 per share on Wednesday, March 4th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, February 11th.

PACCAR has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 5 years. PACCAR has a dividend payout ratio of 19.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PACCAR to earn $9.14 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 14.4%.

PACCAR Price Performance

Shares of PCAR stock traded up $1.34 on Wednesday, reaching $110.25. The company’s stock had a trading volume of 278,274 shares, compared to its average volume of 2,907,803. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.56. PACCAR has a 12-month low of $84.65 and a 12-month high of $116.86. The company has a market capitalization of $57.90 billion, a P/E ratio of 21.60, a PEG ratio of 15.01 and a beta of 1.01. The stock’s 50 day simple moving average is $99.73 and its 200-day simple moving average is $98.02.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.PACCAR’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 earnings per share. As a group, equities analysts predict that PACCAR will post 7.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley set a $90.00 price objective on shares of PACCAR in a research report on Tuesday, October 21st. Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. Truist Financial raised their price objective on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $90.00 target price on shares of PACCAR in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.96.

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.