Penske Automotive Group, Inc. (PAG) Set to Announce Earnings on Tuesday
Penske Automotive Group, Inc. (NYSE:PAG) is set to post its quarterly earnings results before the market opens on Tuesday, October 24th. Analysts expect Penske Automotive Group to post earnings of $1.14 per share for the quarter.
Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.20 by $0.07. The business had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.44 billion. Penske Automotive Group had a return on equity of 19.13% and a net margin of 1.75%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 earnings per share. On average, analysts expect Penske Automotive Group to post $4.3 EPS for the current fiscal year and $4.56 EPS for the next fiscal year.
Penske Automotive Group, Inc. (PAG) opened at 45.54 on Friday. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 10.86 and a beta of 1.45. Penske Automotive Group, Inc. has a 52-week low of $38.33 and a 52-week high of $56.05. The stock has a 50 day moving average price of $45.32 and a 200 day moving average price of $43.88.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.90%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.32. Penske Automotive Group’s dividend payout ratio (DPR) is presently 30.55%.
A number of equities research analysts have commented on PAG shares. BidaskClub upgraded Penske Automotive Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $46.00 target price (down from $54.00) on shares of Penske Automotive Group in a report on Monday, July 17th. Zacks Investment Research lowered Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. ValuEngine lowered Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Northcoast Research assumed coverage on Penske Automotive Group in a report on Thursday, September 28th. They issued a “buy” rating and a $56.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $55.83.
In other news, EVP Claude H. Denker III sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $41.27, for a total transaction of $206,350.00. Following the completion of the transaction, the executive vice president now directly owns 22,243 shares of the company’s stock, valued at approximately $917,968.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 40.70% of the company’s stock.
A hedge fund recently raised its stake in Penske Automotive Group stock. The Manufacturers Life Insurance Company increased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 7.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,499 shares of the company’s stock after purchasing an additional 175 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Penske Automotive Group were worth $110,000 at the end of the most recent quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.
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About Penske Automotive Group
Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
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