Penske Automotive Group (NYSE:PAG) Releases Earnings Results, Beats Estimates By $0.22 EPS

Penske Automotive Group (NYSE:PAG) announced its earnings results on Wednesday. The company reported $3.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.39 by $0.22, Briefing.com reports. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.59 billion. Penske Automotive Group had a net margin of 3.27% and a return on equity of 21.72%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted $4.41 earnings per share.

Penske Automotive Group Price Performance

Shares of NYSE PAG traded down $2.86 during trading on Thursday, hitting $171.25. 432,012 shares of the company were exchanged, compared to its average volume of 196,030. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 11.77 and a beta of 1.18. Penske Automotive Group has a 1 year low of $137.95 and a 1 year high of $179.72. The firm’s fifty day moving average price is $151.78 and its 200 day moving average price is $152.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.23.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.50%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.96. The ex-dividend date is Thursday, August 15th. Penske Automotive Group’s dividend payout ratio (DPR) is 29.76%.

Analyst Ratings Changes

Separately, Bank of America lifted their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Penske Automotive Group presently has an average rating of “Hold” and an average price target of $157.75.

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.