Penske Automotive Group (NYSE:PAG) Announces Quarterly Earnings Results

Penske Automotive Group (NYSE:PAG) announced its earnings results on Wednesday. The company reported $3.36 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.01), Briefing.com reports. The firm had revenue of $8.42 billion during the quarter, compared to analyst estimates of $8.14 billion. Penske Automotive Group had a net margin of 2.77% and a return on equity of 14.82%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.23 EPS.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $212.39 on Friday. Penske Automotive Group has a fifty-two week low of $140.12 and a fifty-two week high of $227.00. The business has a 50 day moving average price of $210.65 and a two-hundred day moving average price of $182.51. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.35. The firm has a market cap of $13.95 billion, a PE ratio of 16.30 and a beta of 0.92.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be paid a dividend of $1.46 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.44. The ex-dividend date is Friday, November 13th. This represents a $5.84 dividend on an annualized basis and a yield of 2.7%. Penske Automotive Group’s payout ratio is 42.42%.

Analyst Ratings Changes

Several equities research analysts have commented on PAG shares. Stephens upped their price target on Penske Automotive Group from $166.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Weiss Ratings raised shares of Penske Automotive Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 11th. Benchmark lowered shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. UBS Group reaffirmed a “neutral” rating and set a $212.00 price target on shares of Penske Automotive Group in a research report on Friday, October 16th. Finally, Citigroup downgraded shares of Penske Automotive Group from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $199.00 to $210.00 in a research note on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.43.

About Penske Automotive Group

Penske Automotive Group, Inc is a diversified international transportation services company that operates automotive and commercial vehicle dealerships. Through its retail automotive operations, the company sells new and used cars and trucks representing a range of manufacturers and provides related services, including vehicle maintenance and repair, parts, collision repair, financing, insurance products and extended service contracts.

The company also operates commercial truck dealerships that sell and service new and used trucks and offer parts and maintenance services to commercial customers.