Equities research analysts predict that Penske Automotive Group, Inc. (NYSE:PAG) will report $5.77 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Penske Automotive Group’s earnings, with the highest sales estimate coming in at $5.81 billion and the lowest estimate coming in at $5.72 billion. Penske Automotive Group reported sales of $5.66 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.9%. The business is expected to issue its next earnings results before the market opens on Tuesday, October 29th.
According to Zacks, analysts expect that Penske Automotive Group will report full year sales of $22.83 billion for the current year, with estimates ranging from $22.74 billion to $22.93 billion. For the next fiscal year, analysts forecast that the business will post sales of $23.49 billion, with estimates ranging from $22.88 billion to $23.94 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Penske Automotive Group.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.17). The firm had revenue of $5.76 billion for the quarter, compared to analysts’ expectations of $5.90 billion. Penske Automotive Group had a net margin of 2.00% and a return on equity of 16.56%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 earnings per share.
A number of research firms have recently commented on PAG. ValuEngine lowered shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 11th. Northcoast Research restated a “buy” rating on shares of Penske Automotive Group in a research report on Thursday, August 1st. Finally, Morgan Stanley boosted their price target on shares of Penske Automotive Group from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $53.75.
In related news, EVP Shane M. Spradlin sold 2,500 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $48.55, for a total value of $121,375.00. Following the completion of the transaction, the executive vice president now directly owns 41,982 shares in the company, valued at $2,038,226.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 42.60% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. SRS Capital Advisors Inc. purchased a new stake in Penske Automotive Group during the second quarter valued at about $31,000. Pearl River Capital LLC purchased a new stake in Penske Automotive Group during the second quarter valued at about $31,000. Tower Research Capital LLC TRC boosted its position in Penske Automotive Group by 105.7% during the second quarter. Tower Research Capital LLC TRC now owns 796 shares of the company’s stock valued at $38,000 after buying an additional 409 shares during the period. Signaturefd LLC boosted its position in Penske Automotive Group by 90.5% during the second quarter. Signaturefd LLC now owns 878 shares of the company’s stock valued at $42,000 after buying an additional 417 shares during the period. Finally, TD Capital Management LLC purchased a new stake in Penske Automotive Group during the second quarter valued at about $43,000. Institutional investors own 42.70% of the company’s stock.
Shares of PAG traded up $0.85 during mid-day trading on Friday, reaching $44.08. 424,875 shares of the stock traded hands, compared to its average volume of 279,953. The firm has a fifty day moving average price of $44.75 and a 200 day moving average price of $45.16. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 1.46 and a beta of 1.30. The company has a current ratio of 0.98, a quick ratio of 0.21 and a debt-to-equity ratio of 0.80. Penske Automotive Group has a 1 year low of $38.49 and a 1 year high of $49.28.
About Penske Automotive Group
Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.
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