PACCAR Inc (NASDAQ:PCAR) announced a quarterly dividend on Wednesday, September 11th, RTT News reports. Stockholders of record on Tuesday, November 12th will be paid a dividend of 0.32 per share on Tuesday, December 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.81%.
PACCAR has raised its dividend by an average of 5.8% annually over the last three years and has increased its dividend every year for the last 9 years. PACCAR has a payout ratio of 21.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect PACCAR to earn $5.90 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 21.7%.
Shares of PACCAR stock traded down $1.60 during midday trading on Thursday, hitting $70.72. The company’s stock had a trading volume of 234,420 shares, compared to its average volume of 1,826,753. The firm has a market capitalization of $24.41 billion, a P/E ratio of 11.33, a PEG ratio of 1.24 and a beta of 1.28. The stock has a 50-day simple moving average of $66.68 and a 200-day simple moving average of $68.75. The company has a quick ratio of 2.26, a current ratio of 2.43 and a debt-to-equity ratio of 0.70. PACCAR has a 1-year low of $53.43 and a 1-year high of $73.00.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.78 EPS for the quarter, missing the Zacks’ consensus estimate of $1.82 by ($0.04). PACCAR had a return on equity of 25.99% and a net margin of 9.43%. The business had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the company earned $1.59 earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, sell-side analysts predict that PACCAR will post 6.77 earnings per share for the current year.
PCAR has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of PACCAR from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $87.00 to $66.00 in a research note on Wednesday, July 24th. Evercore ISI restated an “in-line” rating and set a $76.00 price objective (up from $73.00) on shares of PACCAR in a research note on Friday, May 31st. Morgan Stanley increased their price objective on shares of PACCAR from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 24th. Zacks Investment Research downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Finally, Credit Suisse Group raised their target price on shares of PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.89.
In other PACCAR news, VP David J. Danforth sold 848 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $71.66, for a total value of $60,767.68. Following the transaction, the vice president now directly owns 4,958 shares of the company’s stock, valued at approximately $355,290.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.32% of the stock is owned by corporate insiders.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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