Penske Automotive Group (NYSE:PAG) Announces Earnings Results, Beats Estimates By $0.17 EPS

Penske Automotive Group (NYSE:PAG) released its earnings results on Thursday. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17, Zacks reports. The firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%.

Penske Automotive Group Stock Down 1.0 %

NYSE PAG traded down $1.72 during trading on Friday, reaching $174.17. 324,947 shares of the company’s stock were exchanged, compared to its average volume of 153,292. The stock has a market cap of $11.63 billion, a P/E ratio of 13.35 and a beta of 1.20. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The company has a 50 day moving average price of $160.49 and a two-hundred day moving average price of $160.44. Penske Automotive Group has a 1 year low of $142.32 and a 1 year high of $180.12.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.80%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, February 24th. Penske Automotive Group’s payout ratio is 36.48%.

Analyst Ratings Changes

Separately, Benchmark began coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Penske Automotive Group has a consensus rating of “Hold” and an average price target of $170.25.

About Penske Automotive Group

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.