Penske Automotive Group (NYSE:PAG) Posts Earnings Results, Misses Expectations By $0.02 EPS

Penske Automotive Group (NYSE:PAG - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $3.39 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.02), Briefing.com reports. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.67 billion. During the same period last year, the business posted $3.90 EPS. The company's revenue was up 1.9% on a year-over-year basis.

Penske Automotive Group Stock Performance

PAG stock traded down $0.54 during midday trading on Wednesday, hitting $152.43. The company's stock had a trading volume of 211,352 shares, compared to its average volume of 187,633. The stock's 50-day moving average price is $158.80 and its 200 day moving average price is $155.80. The company has a quick ratio of 0.22, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. Penske Automotive Group has a 1 year low of $140.70 and a 1 year high of $179.72. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 11.27 and a beta of 1.16.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be given a $1.19 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 annualized dividend and a yield of 3.12%. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.07. Penske Automotive Group's payout ratio is currently 31.52%.

Insiders Place Their Bets

In other Penske Automotive Group news, Director John Barr sold 716 shares of the business's stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $170.71, for a total value of $122,228.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 52.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America raised their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on Penske Automotive Group from $140.00 to $160.00 and gave the company an "underweight" rating in a research report on Tuesday, September 10th. Stephens began coverage on Penske Automotive Group in a research report on Thursday, September 12th. They set an "equal weight" rating and a $161.00 target price on the stock. Finally, Morgan Stanley raised Penske Automotive Group from an "underweight" rating to an "overweight" rating and lifted their target price for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.