Penske Automotive Group (PAG) Set to Announce Earnings on Wednesday

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

(Get Rating)

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.

See Also

Earnings History for Penske Automotive Group (NYSE:PAG)

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