Penske Automotive Group, Inc. (NYSE:PAG) Plans Quarterly Dividend of $1.42

Penske Automotive Group, Inc. (NYSE:PAG) announced a quarterly dividend on Wednesday, May 13th. Investors of record on Tuesday, May 26th will be paid a dividend of 1.42 per share on Wednesday, June 3rd. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, May 26th. This is a 1.4% increase from Penske Automotive Group’s previous quarterly dividend of $1.40.

Penske Automotive Group has raised its dividend payment by an average of 0.4%annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Penske Automotive Group has a payout ratio of 38.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Penske Automotive Group to earn $14.49 per share next year, which means the company should continue to be able to cover its $5.60 annual dividend with an expected future payout ratio of 38.6%.

Penske Automotive Group Stock Down 1.5%

PAG stock opened at $166.46 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $155.86 and its 200 day moving average price is $160.33. Penske Automotive Group has a 52 week low of $140.12 and a 52 week high of $189.51. The company has a market cap of $10.94 billion, a P/E ratio of 12.42, a P/E/G ratio of 2.19 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.14. Penske Automotive Group had a net margin of 2.85% and a return on equity of 15.13%. The company had revenue of $7.86 billion during the quarter, compared to analysts’ expectations of $7.71 billion. During the same period last year, the company posted $3.66 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, research analysts expect that Penske Automotive Group will post 13.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PAG. Weiss Ratings downgraded Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Citigroup upped their target price on Penske Automotive Group from $193.00 to $199.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Morgan Stanley restated an “overweight” rating and issued a $190.00 price target on shares of Penske Automotive Group in a research report on Thursday, May 7th. Stephens lifted their price target on Penske Automotive Group from $155.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Finally, Barclays decreased their price objective on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $184.86.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.