Penske Automotive Group (PAG) Scheduled to Post Earnings on Tuesday

Penske Automotive Group (NYSE:PAG) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, October 29th. Analysts expect Penske Automotive Group to post earnings of $3.46 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.39 by $0.22. Penske Automotive Group had a return on equity of 19.82% and a net margin of 3.05%. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.59 billion. During the same quarter in the prior year, the firm posted $4.41 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts expect Penske Automotive Group to post $14 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Penske Automotive Group Price Performance

Shares of PAG opened at $152.26 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. The stock has a market cap of $10.17 billion, a P/E ratio of 11.21 and a beta of 1.16. The stock’s 50-day moving average price is $159.21 and its two-hundred day moving average price is $155.70. Penske Automotive Group has a 1 year low of $140.70 and a 1 year high of $179.72.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a dividend of $1.19 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 annualized dividend and a yield of 3.13%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 31.52%.

Wall Street Analyst Weigh In

PAG has been the subject of several recent analyst reports. Stephens began coverage on shares of Penske Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price for the company. Bank of America upped their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. increased their price target on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a report on Tuesday, September 10th.

Insider Transactions at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 716 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 51.70% of the stock is owned by 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.