Penske Automotive Group (NYSE:PAG) Posts Earnings Results, Misses Expectations By $0.02 EPS

Penske Automotive Group (NYSE:PAG) posted its quarterly earnings results on Tuesday. The company reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02), Briefing.com reports. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.67 billion. During the same quarter in the previous year, the company earned $3.90 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year.

Penske Automotive Group Stock Performance

PAG stock traded up $0.13 on Wednesday, hitting $153.10. The company had a trading volume of 53,450 shares, compared to its average volume of 186,867. The company has a current ratio of 0.98, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. Penske Automotive Group has a 12-month low of $140.70 and a 12-month high of $179.72. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 11.18 and a beta of 1.16. The stock’s 50-day simple moving average is $158.80 and its 200 day simple moving average is $155.80.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a $1.19 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 annualized dividend and a yield of 3.11%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. Penske Automotive Group’s dividend payout ratio (DPR) is currently 31.52%.

Insiders Place Their Bets

In other Penske Automotive Group news, Director John Barr sold 716 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total value of $122,228.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 52.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PAG. Bank of America increased their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Stephens began coverage on shares of Penske Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a report on Tuesday, September 10th. Finally, Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th.

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.