Penske Automotive Group (PAG) Scheduled to Post Earnings on Tuesday

Penske Automotive Group (NYSE:PAG) is scheduled to be announcing its earnings results before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $3.46 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.39 by $0.22. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.59 billion. During the same period in the prior year, the business posted $4.41 earnings per share. Penske Automotive Group’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts expect Penske Automotive Group to post $14 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Penske Automotive Group Stock Performance

Shares of NYSE PAG opened at $152.26 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.22. Penske Automotive Group has a one year low of $140.70 and a one year high of $179.72. The business’s 50-day moving average price is $159.21 and its two-hundred day moving average price is $155.70. The company has a market capitalization of $10.17 billion, a P/E ratio of 11.21 and a beta of 1.16.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a $1.19 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date is Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 3.13%. Penske Automotive Group’s payout ratio is presently 31.52%.

Insider Activity at Penske Automotive Group

In other news, Director John Barr sold 716 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $170.71, for a total transaction of $122,228.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 51.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PAG has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a research note on Tuesday, September 10th. Stephens initiated coverage on Penske Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price target on the stock. Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and raised their target price for the company from $115.00 to $180.00 in a research note on Wednesday, September 25th. Finally, Bank of America boosted their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

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.