Penske Automotive Group (NYSE:PAG) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Penske Automotive Group (NYSE:PAG - Get Free Report) posted its earnings results on Thursday. The company reported $3.54 earnings per share for the quarter, topping analysts' consensus estimates of $3.37 by $0.17, Zacks reports. The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%.

Penske Automotive Group Price Performance

Shares of NYSE:PAG traded down $1.72 during trading on Monday, reaching $174.17. 324,947 shares of the company traded hands, compared to its average volume of 153,292. The company's 50 day moving average is $160.49 and its two-hundred day moving average is $160.32. The firm has a market capitalization of $11.63 billion, a PE ratio of 13.35 and a beta of 1.20. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a 52 week low of $142.32 and a 52 week high of $180.12.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.80%. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, February 24th. Penske Automotive Group's dividend payout ratio is presently 36.48%.

Wall Street Analysts Forecast Growth

Separately, Benchmark began coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a "buy" rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $170.25.

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.