Penske Automotive Group (NYSE:PAG) Announces Earnings Results

Penske Automotive Group (NYSE:PAG) posted its quarterly earnings results on Tuesday. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02), Briefing.com reports. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The company had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.67 billion. During the same quarter last year, the company earned $3.90 earnings per share. Penske Automotive Group’s revenue for the quarter was up 1.9% on a year-over-year basis.

Penske Automotive Group Trading Up 0.6 %

Shares of PAG stock traded up $0.90 during trading hours on Wednesday, hitting $153.87. The company had a trading volume of 68,651 shares, compared to its average volume of 186,954. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.22. The stock has a market capitalization of $10.27 billion, a PE ratio of 11.27 and a beta of 1.16. The company’s fifty day moving average is $158.80 and its 200 day moving average is $155.80. Penske Automotive Group has a fifty-two week low of $140.70 and a fifty-two week high of $179.72.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be given a dividend of $1.19 per share. The ex-dividend date is Friday, November 15th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.09%. Penske Automotive Group’s dividend payout ratio (DPR) is currently 31.52%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PAG shares. Stephens initiated coverage on Penske Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price for the company. Bank of America lifted 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 note on Monday, July 22nd. JPMorgan Chase & Co. increased their price target 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. Finally, Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th.

Insider Buying and Selling at Penske Automotive Group

In other news, Director John Barr sold 716 shares of the firm’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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 52.20% of the stock is owned by corporate insiders.

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.