Penske Automotive Group, Inc. (NYSE:PAG) to Post Q3 2024 Earnings of $3.38 Per Share, Zacks Research Forecasts

Penske Automotive Group, Inc. (NYSE:PAG) – Investment analysts at Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for shares of Penske Automotive Group in a research note issued on Tuesday, June 25th. Zacks Research analyst L. Shahu now anticipates that the company will post earnings of $3.38 per share for the quarter, up from their previous estimate of $3.37. The consensus estimate for Penske Automotive Group’s current full-year earnings is $13.37 per share. Zacks Research also issued estimates for Penske Automotive Group’s Q4 2024 earnings at $3.20 EPS, Q1 2025 earnings at $3.09 EPS, Q2 2025 earnings at $3.55 EPS, Q3 2025 earnings at $3.73 EPS, Q4 2025 earnings at $3.30 EPS, FY2025 earnings at $13.67 EPS, Q1 2026 earnings at $3.38 EPS and FY2026 earnings at $14.10 EPS.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.35 by ($0.14). The company had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.52 billion. Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. Penske Automotive Group’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.31 earnings per share.

Several other equities research analysts have also recently commented on the company. Morgan Stanley boosted their target price on Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. Bank of America boosted their target price on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $163.20.

Penske Automotive Group Trading Down 0.4 %

NYSE:PAG opened at $148.16 on Thursday. Penske Automotive Group has a fifty-two week low of $137.95 and a fifty-two week high of $180.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.23. The stock has a market capitalization of $9.91 billion, a PE ratio of 10.30 and a beta of 1.19. The business’s 50-day simple moving average is $151.93 and its 200-day simple moving average is $153.27.

Institutional Investors Weigh In On Penske Automotive Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cetera Advisors LLC acquired a new stake in shares of Penske Automotive Group in the first quarter valued at about $230,000. Tidal Investments LLC bought a new position in shares of Penske Automotive Group in the first quarter valued at approximately $954,000. Janus Henderson Group PLC lifted its stake in Penske Automotive Group by 4.8% during the first quarter. Janus Henderson Group PLC now owns 30,736 shares of the company’s stock worth $4,980,000 after purchasing an additional 1,405 shares during the last quarter. Hyperion Capital Advisors LP bought a new stake in shares of Penske Automotive Group in the 1st quarter valued at about $279,000. Finally, Gabelli Funds LLC lifted its stake in shares of Penske Automotive Group by 6.2% in the 1st quarter. Gabelli Funds LLC now owns 85,500 shares of the company’s stock valued at $13,850,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th were paid a $0.96 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, May 17th. This represents a $3.84 annualized dividend and a dividend yield of 2.59%. Penske Automotive Group’s dividend payout ratio is presently 26.70%.

About Penske Automotive Group

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.