Penske Automotive Group (NYSE:PAG - Get Free Report) is set to release its earnings data before the market opens on Tuesday, October 29th. Analysts expect Penske Automotive Group to post earnings of $3.46 per share for the quarter. Investors interested in registering for the company's conference call can do so using this link.
Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.39 by $0.22. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.59 billion. During the same period last year, the firm posted $4.41 EPS. The company's revenue was up 3.1% on a year-over-year basis. On average, analysts expect Penske Automotive Group to post $14 EPS for the current fiscal year and $14 EPS for the next fiscal year.
Penske Automotive Group Price Performance
Shares of PAG stock traded down $0.21 during mid-day trading on Tuesday, hitting $151.90. The company had a trading volume of 175,766 shares, compared to its average volume of 186,834. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.22. The stock's 50 day moving average price is $159.92 and its 200-day moving average price is $155.74. Penske Automotive Group has a 52-week low of $137.95 and a 52-week high of $179.72. The company has a market capitalization of $10.14 billion, a P/E ratio of 11.19 and a beta of 1.16.
Penske Automotive Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid 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 3.13%. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.07. Penske Automotive Group's payout ratio is presently 31.52%.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on PAG shares. Stephens started coverage on Penske Automotive Group in a research report on Thursday, September 12th. They set an "equal weight" rating and a $161.00 price objective for the company. Morgan Stanley raised Penske Automotive Group from an "underweight" rating to an "overweight" rating and lifted their price objective for the stock from $115.00 to $180.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the stock an "underweight" rating in a report on Tuesday, September 10th. Finally, Bank of America raised their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a "buy" rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $175.40.
Check Out Our Latest Report on PAG
Insider Transactions at Penske Automotive Group
In related news, Director John Barr sold 716 shares of the firm'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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 51.70% of the company's stock.
Penske Automotive Group Company Profile
(
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.
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