Zacks Research Equities Analysts Cut Earnings Estimates for PACCAR Inc (NASDAQ:PCAR)

PACCAR Inc (NASDAQ:PCAR) – Investment analysts at Zacks Research reduced their Q3 2024 earnings estimates for shares of PACCAR in a research report issued to clients and investors on Monday, October 14th. Zacks Research analyst R. Singhi now forecasts that the company will post earnings of $1.82 per share for the quarter, down from their previous forecast of $1.83. The consensus estimate for PACCAR’s current full-year earnings is $8.08 per share. Zacks Research also issued estimates for PACCAR’s Q4 2024 earnings at $1.90 EPS, FY2024 earnings at $8.12 EPS, Q1 2025 earnings at $2.10 EPS, Q2 2025 earnings at $2.07 EPS, Q3 2025 earnings at $1.93 EPS, Q4 2025 earnings at $1.98 EPS, FY2025 earnings at $8.09 EPS, Q1 2026 earnings at $2.25 EPS, Q2 2026 earnings at $2.24 EPS, Q3 2026 earnings at $2.19 EPS and FY2026 earnings at $8.91 EPS.

Other research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on PACCAR from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Evercore ISI dropped their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup increased their target price on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $114.00.

PACCAR Stock Down 1.7 %

Shares of NASDAQ:PCAR opened at $106.41 on Tuesday. The stock has a market cap of $55.77 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.61 and a beta of 0.91. PACCAR has a 12-month low of $80.94 and a 12-month high of $125.50. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $97.25 and its 200 day moving average is $103.89.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. PACCAR’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.33 earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PCAR. Miracle Mile Advisors LLC grew its holdings in shares of PACCAR by 3.8% in the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after purchasing an additional 91 shares during the period. Security National Bank lifted its holdings in PACCAR by 4.2% in the second quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after purchasing an additional 93 shares during the period. Brookstone Capital Management lifted its stake in PACCAR by 4.1% in the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after acquiring an additional 94 shares in the last quarter. CVA Family Office LLC lifted its holdings in PACCAR by 13.3% in the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after purchasing an additional 97 shares during the last quarter. Finally, Graypoint LLC increased its stake in PACCAR by 2.9% in the first quarter. Graypoint LLC now owns 3,557 shares of the company’s stock valued at $441,000 after acquiring an additional 99 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.02% of the company’s stock.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

PACCAR Company Profile

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.