Penske Automotive Group, Inc. (NYSE:PAG) Plans Quarterly Dividend of $1.22

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) declared a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Stockholders of record on Monday, February 24th will be given a dividend of 1.22 per share on Thursday, March 6th. This represents a $4.88 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, February 24th. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19.

Penske Automotive Group has increased its dividend by an average of 32.0% per year over the last three years. Penske Automotive Group has a payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Penske Automotive Group to earn $13.86 per share next year, which means the company should continue to be able to cover its $4.88 annual dividend with an expected future payout ratio of 35.2%.

Penske Automotive Group Stock Down 0.5 %

Shares of PAG stock traded down $0.82 during mid-day trading on Tuesday, hitting $173.62. The company's stock had a trading volume of 35,518 shares, compared to its average volume of 177,478. Penske Automotive Group has a 52-week low of $142.32 and a 52-week high of $180.12. The business has a 50-day moving average price of $160.69 and a 200 day moving average price of $160.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The stock has a market cap of $11.59 billion, a price-to-earnings ratio of 13.29 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The firm had revenue of $7.72 billion during the quarter, compared to analysts' expectations of $7.56 billion. Research analysts predict that Penske Automotive Group will post 13.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PAG shares. Benchmark started coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a "buy" rating for the company. Stephens reissued an "equal weight" rating and set a $165.00 price target on shares of Penske Automotive Group in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $171.25.

Penske Automotive Group Company Profile

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.