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.
Get Our Latest Stock Analysis on PAG
About Penske Automotive Group
(
Get Free Report)
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.
Read More
Before you consider Penske Automotive Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Penske Automotive Group wasn't on the list.
While Penske Automotive Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
