Penske Automotive Group (NYSE:PAG – Get Rating) is set to issue its quarterly earnings data before the market opens on Wednesday, July 27th. Analysts expect the company to announce earnings of $4.38 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.
Penske Automotive Group (NYSE:PAG – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The company reported $4.76 EPS for the quarter, beating analysts’ consensus estimates of $3.94 by $0.82. Penske Automotive Group had a net margin of 5.13% and a return on equity of 35.33%. The firm had revenue of $6.98 billion for the quarter, compared to analysts’ expectations of $6.32 billion. During the same quarter in the prior year, the company posted $2.26 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, analysts expect Penske Automotive Group to post $17 EPS for the current fiscal year and $15 EPS for the next fiscal year.
Penske Automotive Group Trading Up 4.4%
NYSE:PAG opened at $112.43 on Wednesday. The company’s 50-day moving average price is $110.90 and its 200-day moving average price is $104.51. Penske Automotive Group has a 52 week low of $76.44 and a 52 week high of $123.60. The company has a quick ratio of 0.26, a current ratio of 0.97 and a debt-to-equity ratio of 0.33. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of 6.45 and a beta of 1.24.
Penske Automotive Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Monday, May 23rd were issued a dividend of $0.50 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, May 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.78%. Penske Automotive Group’s dividend payout ratio is currently 11.48%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in PAG. JPMorgan Chase & Co. raised its position in Penske Automotive Group by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 120,271 shares of the company’s stock worth $11,272,000 after acquiring an additional 2,842 shares during the period. Raymond James & Associates raised its position in Penske Automotive Group by 9.7% in the first quarter. Raymond James & Associates now owns 32,424 shares of the company’s stock worth $3,039,000 after acquiring an additional 2,877 shares during the period. Bank of New York Mellon Corp raised its position in Penske Automotive Group by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 307,996 shares of the company’s stock worth $28,864,000 after acquiring an additional 3,730 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Penske Automotive Group by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,367 shares of the company’s stock worth $784,000 after acquiring an additional 137 shares during the period. Finally, Citigroup Inc. raised its position in Penske Automotive Group by 3.5% in the first quarter. Citigroup Inc. now owns 25,355 shares of the company’s stock worth $2,376,000 after acquiring an additional 860 shares during the period. 50.13% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
PAG has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Penske Automotive Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 7th. JPMorgan Chase & Co. lowered their price objective on shares of Penske Automotive Group from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, April 7th. Finally, Morgan Stanley lowered their price objective on shares of Penske Automotive Group from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Penske Automotive Group has an average rating of “Moderate Buy” and a consensus target price of $110.25.
About Penske Automotive Group
Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships. 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to email@example.com.
Should you invest $1,000 in Penske Automotive Group right now?
Before you consider Penske Automotive Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Penske Automotive Group wasn’t on the list.
While Penske Automotive Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here