Penske Automotive Group, Inc. (NYSE:PAG) Expected to Post Earnings of $2.70 Per Share

Brokerages expect Penske Automotive Group, Inc. (NYSE:PAG) to announce $2.70 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Penske Automotive Group’s earnings. The lowest EPS estimate is $1.26 and the highest is $4.20. Penske Automotive Group reported earnings per share of $0.56 in the same quarter last year, which suggests a positive year over year growth rate of 382.1%. The company is expected to report its next quarterly earnings report before the market opens on Wednesday, July 28th.

According to Zacks, analysts expect that Penske Automotive Group will report full year earnings of $9.75 per share for the current fiscal year, with EPS estimates ranging from $7.95 to $12.55. For the next year, analysts forecast that the company will report earnings of $9.08 per share, with EPS estimates ranging from $8.55 to $9.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Penske Automotive Group.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Tuesday, April 27th. The company reported $2.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.45. Penske Automotive Group had a net margin of 3.18% and a return on equity of 20.79%. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the prior year, the company earned $0.64 EPS. The firm’s revenue was up 15.3% on a year-over-year basis.

PAG has been the topic of several analyst reports. Bank of America raised their price target on shares of Penske Automotive Group from $119.00 to $141.00 and gave the stock a “buy” rating in a research note on Friday, July 16th. Morgan Stanley raised their price target on shares of Penske Automotive Group from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, May 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Penske Automotive Group presently has a consensus rating of “Buy” and an average target price of $84.14.

In related news, CEO Roger S. Penske sold 20,813 shares of the firm’s stock in a transaction that occurred on Thursday, June 3rd. The shares were sold at an average price of $84.10, for a total value of $1,750,373.30. Also, EVP Claude H. Denker III sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $90.30, for a total transaction of $1,354,500.00. Following the completion of the transaction, the executive vice president now owns 37,559 shares in the company, valued at approximately $3,391,577.70. The disclosure for this sale can be found here. Insiders sold 40,813 shares of company stock worth $3,568,823 in the last 90 days. 44.30% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Brookstone Capital Management acquired a new stake in shares of Penske Automotive Group during the second quarter worth approximately $312,000. Pflug Koory LLC acquired a new stake in shares of Penske Automotive Group during the second quarter worth approximately $43,000. Lehman & Derafelo Financial Resources LLC acquired a new stake in shares of Penske Automotive Group during the first quarter worth approximately $201,000. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Penske Automotive Group during the first quarter worth approximately $269,000. Finally, Principal Financial Group Inc. grew its position in shares of Penske Automotive Group by 8.3% during the first quarter. Principal Financial Group Inc. now owns 28,667 shares of the company’s stock worth $2,300,000 after buying an additional 2,187 shares in the last quarter. Institutional investors own 35.78% of the company’s stock.

Shares of Penske Automotive Group stock traded down $0.61 during mid-day trading on Thursday, hitting $81.94. 8,944 shares of the stock were exchanged, compared to its average volume of 292,299. Penske Automotive Group has a twelve month low of $44.38 and a twelve month high of $93.45. The company has a market cap of $6.62 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 0.86 and a beta of 1.60. The stock has a 50-day moving average of $80.25. The company has a quick ratio of 0.24, a current ratio of 0.95 and a debt-to-equity ratio of 0.43.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 2nd. Investors of record on Monday, May 24th were issued a $0.44 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, May 21st. This represents a $1.76 annualized dividend and a yield of 2.15%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 26.51%.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships. 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.

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