Revenue Update on PACCAR Inc(NASDAQ:PCAR)

PACCAR Inc(NASDAQ:PCAR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $4.41B. Analysts estimated a revenue of $4.18B. Earnings per share were $1.06. Analysts had estimated an EPS of $1.02.

In a different note, On Jul 19, 2016, Longbow Research said it Downgrades its rating on PACCAR Inc. The shares have been rated ‘Underperform’ by the firm. On Jun 27, 2016, JP Morgan said it Downgrades its rating on PACCAR Inc. In the research note, the firm Lowers the price-target to $58.00 per share. The shares have been rated ‘Underweight’ by the firm. On Jun 3, 2016, Goldman Sachs said it Downgrades its rating on PACCAR Inc. In the research note, the firm Lowers the price-target to $67.00 per share. The shares have been rated ‘Neutral’ by the firm. Argus Research said it Initiates Coverage on PACCAR Inc, according to a research note issued on May 20, 2016. The shares have been rated ‘Hold’ by the firm. On May 9, 2016, Bank of America said it Upgrades its rating on PACCAR Inc. The shares have been rated ‘Buy’ by the firm.

PACCAR Inc (PCAR) made into the market gainers list on Fridays trading session with the shares advancing 0.75% or 0.44 points. Due to strong positive momentum, the stock ended at $58.97, which is also near the day’s high of $59.17. The stock began the session at $58.57 and the volume stood at 25,04,586 shares. The 52-week high of the shares is $65.72 and the 52 week low is $43.46. The company has a current market capitalization of $20,667 M and it has 35,04,62,850 shares in outstanding.

PACCAR Inc has also declared a cash dividend of $0.2400 on Jul 11, 2016. The shares will quote ex-dividend on Aug 10, 2016 and the record date has been fixed on Aug 12, 2016. The dividend payable date has been fixed on Sep 2, 2016.

Several Insider Transactions has been reported to the SEC. On May 20, 2016, Robert J. Christensen (CFO) purchased 849 shares at $55.51 per share price.Also, On May 3, 2016, Ronald E Armstrong (Chief Executive Officer) sold 11,783 shares at $58.72 per share price.On May 3, 2016, Harrie Schippers (Vice President) sold 14,405 shares at $58.95 per share price, according to the Form-4 filing with the securities and exchange commission.

PACCAR Inc is a company operating in three principal industry segments: the Truck segment includes the design manufacture and distribution of light- medium- and heavy-duty commercial trucks; the Parts segment includes the distribution of aftermarket parts for trucks and related commercial vehicles and the Financial Services segment includes finance and leasing products and services provided to customers and dealers in the United States Canada Mexico Europe and Australia. The Company also operates in Australia and Brazil and sells trucks and parts to customers in Asia Africa Middle East and South America. The Company’s trucks are marketed under the Kenworth Peterbilt and DAF nameplates. It also manufactures industrial winches in two plants in the United States.

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