Penske Automotive Group (NYSE:PAG) Announces Quarterly Earnings Results, Misses Expectations By $0.14 EPS

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

Penske Automotive Group Stock Down 0.6 %

Shares of Penske Automotive Group stock opened at $151.93 on Thursday. Penske Automotive Group has a 52-week low of $133.72 and a 52-week high of $180.84. The company has a 50 day moving average of $153.64 and a 200 day moving average of $152.81. The company has a quick ratio of 0.25, a current ratio of 0.98 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $10.19 billion, a P/E ratio of 10.57 and a beta of 1.21.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. Bank of America raised their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $163.20.

Insider Buying and Selling

In related news, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the completion of the transaction, the director now owns 51,001 shares in the company, valued at $7,618,529.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group stock in a transaction on Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the transaction, the director now directly owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the transaction, the director now directly owns 716 shares in the company, valued at $110,299.80. The disclosure for this sale can be found here. 51.70% of the stock is owned by insiders.

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.