Penske Automotive Group, Inc. (PAG) To Go Ex-Dividend on February 25th

Penske Automotive Group, Inc. (NYSE:PAG) declared a quarterly dividend on Wednesday, February 11th. Investors of record on Wednesday, February 25th will be paid a dividend of 1.40 per share on Thursday, March 5th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, February 25th. This is a 1.4% increase from Penske Automotive Group’s previous quarterly dividend of $1.38.

Penske Automotive Group has raised its dividend payment by an average of 0.4%per year over the last three years and has increased its dividend every year for the last 6 years. Penske Automotive Group has a dividend payout ratio of 38.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Penske Automotive Group to earn $14.38 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 38.9%.

Penske Automotive Group Trading Up 0.9%

Shares of PAG stock opened at $167.23 on Monday. The firm’s 50 day moving average is $164.29 and its 200 day moving average is $168.79. Penske Automotive Group has a 12-month low of $134.05 and a 12-month high of $189.51. The company has a current ratio of 0.99, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $11.01 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.73 and a beta of 0.92.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, February 11th. The company reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.19 by ($0.28). Penske Automotive Group had a return on equity of 15.77% and a net margin of 2.91%.The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.62 billion. During the same period in the prior year, the company posted $3.54 EPS. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Research analysts expect that Penske Automotive Group will post 13.86 earnings per share for the current year.

Analysts Set New Price Targets

PAG has been the topic of several research analyst reports. Barclays boosted their target price on Penske Automotive Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 17th. Weiss Ratings restated a “buy (b)” rating on shares of Penske Automotive Group in a report on Friday, October 31st. Bank of America assumed coverage on Penske Automotive Group in a research report on Tuesday, December 9th. They set a “buy” rating and a $195.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. Finally, JPMorgan Chase & Co. cut their target price on Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Penske Automotive Group has a consensus rating of “Moderate Buy” and a consensus target price of $184.43.

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.