Market Update (NASDAQ:PCAR): PACCAR Declares Quarterly Cash Dividend

[Business Wire] – PACCAR’s Board of Directors today declared a quarterly cash dividend of twenty-four cents per share payable September 2, 2016 to stockholders of record at the close of business on August 12, 2016. Read more on this. PACCAR Inc. (PCAR) , with a current market cap of $18.57B, started trading this morning at $52.16. Looking at the equity, the company’s one day range is $52.14 to $53.13 with a one year range of $43.46 to $66.43. PCAR shares are currently priced at 13.33x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.23x earnings multiple for the same period. The company pays shareholders $0.96 per share annually in dividends, yielding 1.84%. Consensus earnings for the current quarter by the 22 sell-side analysts covering the stock is an estimate of $1.03 per share, which would be $0.23 worse than the year-ago quarter and a $0.02 sequential increase. Investors should also note that the full-year EPS estimate of $3.91 is a $0.60 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.18 Billion. If reported, that would be a 12.73% decrease over the year-ago quarter. In terms of ratings, JP Morgan downgraded PCAR from Neutral to Underweight (Jun 27, 2016). Previously, Goldman downgraded PCAR from Buy to Neutral. The average price target for PCAR shares is $55.83, which is 7.04% above where the stock opened this morning. See more in (NASDAQ:PCAR) Similar Articles: Market Update: PACCAR Inc (NASDAQ:PCAR) – PACCAR Achieves Good First Quarter Results Stock Update: PACCAR Inc (NASDAQ:PCAR) – Market Updates on Trucks & Other Vehicles Equities — PACCAR, Oshkosh, Navistar Intl., and Wabash National Market Update (NASDAQ:INTC): Intel Declares Quarterly Cash Dividend