Penske Automotive Group, Inc. (PAG) Expected to Announce Earnings of $1.60 Per Share

Equities research analysts expect that Penske Automotive Group, Inc. (NYSE:PAG) will report earnings per share of $1.60 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Penske Automotive Group’s earnings, with the lowest EPS estimate coming in at $1.55 and the highest estimate coming in at $1.64. Penske Automotive Group reported earnings of $1.58 per share in the same quarter last year, which suggests a positive year over year growth rate of 1.3%. The business is scheduled to announce its next quarterly earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Penske Automotive Group will report full year earnings of $5.47 per share for the current financial year, with EPS estimates ranging from $5.35 to $5.53. For the next financial year, analysts expect that the company will post earnings of $5.64 per share, with EPS estimates ranging from $5.07 to $5.93. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Penske Automotive Group.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.03. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.74 billion. Penske Automotive Group had a net margin of 2.05% and a return on equity of 17.38%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 earnings per share.

PAG has been the subject of several research analyst reports. Zacks Investment Research downgraded Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, May 13th. ValuEngine raised Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. initiated coverage on Penske Automotive Group in a report on Tuesday, February 19th. They issued a “neutral” rating and a $51.00 price objective for the company. Morgan Stanley decreased their price objective on Penske Automotive Group from $62.00 to $56.00 and set an “overweight” rating for the company in a report on Tuesday, April 16th. Finally, Seaport Global Securities initiated coverage on Penske Automotive Group in a report on Wednesday, February 13th. They issued a “buy” rating and a $61.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Penske Automotive Group has a consensus rating of “Hold” and a consensus price target of $55.83.

In other news, Director John Barr sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $44.31, for a total value of $221,550.00. Following the completion of the sale, the director now directly owns 18,000 shares of the company’s stock, valued at $797,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 42.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PAG. Sageworth Trust Co acquired a new stake in shares of Penske Automotive Group during the first quarter worth $27,000. WealthBridge Capital Management LLC lifted its holdings in shares of Penske Automotive Group by 3,257.9% during the first quarter. WealthBridge Capital Management LLC now owns 638 shares of the company’s stock worth $29,000 after purchasing an additional 619 shares during the period. Winslow Evans & Crocker Inc. acquired a new stake in shares of Penske Automotive Group during the fourth quarter worth $30,000. Parallel Advisors LLC lifted its holdings in shares of Penske Automotive Group by 473.8% during the fourth quarter. Parallel Advisors LLC now owns 1,050 shares of the company’s stock worth $42,000 after purchasing an additional 867 shares during the period. Finally, Omnia Family Wealth LLC acquired a new stake in shares of Penske Automotive Group during the fourth quarter worth $43,000. 43.58% of the stock is owned by hedge funds and other institutional investors.

PAG stock opened at $44.44 on Friday. The company has a market capitalization of $3.70 billion, a PE ratio of 8.32, a PEG ratio of 1.81 and a beta of 1.36. Penske Automotive Group has a twelve month low of $38.49 and a twelve month high of $53.84. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.98 and a quick ratio of 0.22.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th will be issued a $0.39 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Friday, May 17th. Penske Automotive Group’s dividend payout ratio is presently 28.46%.

About Penske Automotive Group

Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.

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