Penske Automotive Group (NYSE:PAG) Releases Earnings Results, Beats Expectations By $0.22 EPS

Penske Automotive Group (NYSE:PAG) posted its quarterly earnings data on Wednesday. The company reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.39 by $0.22, Briefing.com reports. The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.59 billion. Penske Automotive Group had a net margin of 3.27% and a return on equity of 21.72%. Penske Automotive Group’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.41 EPS.

Penske Automotive Group Stock Performance

Shares of NYSE:PAG traded down $2.86 on Thursday, hitting $171.25. 432,012 shares of the company were exchanged, compared to its average volume of 195,979. The company’s 50 day moving average price is $151.78 and its two-hundred day moving average price is $152.70. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 11.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.23 and a current ratio of 0.98. Penske Automotive Group has a one year low of $137.95 and a one year high of $179.72.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.96. This represents a $4.28 dividend on an annualized basis and a yield of 2.50%. Penske Automotive Group’s dividend payout ratio is 29.76%.

Analyst Upgrades and Downgrades

Separately, Bank of America raised their price target on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Penske Automotive Group presently has an average rating of “Hold” and an average target price of $157.75.

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.