Penske Automotive Group, Inc. (NYSE:PAG) – Equities researchers at Northcoast Research increased their FY2018 earnings estimates for Penske Automotive Group in a research note issued to investors on Thursday, Zacks Investment Research reports. Northcoast Research analyst J. Healy now expects that the company will earn $5.05 per share for the year, up from their previous estimate of $4.75.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.01. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.27 billion. Penske Automotive Group had a net margin of 2.87% and a return on equity of 17.67%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 6th. ValuEngine upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Bank of America boosted their price target on shares of Penske Automotive Group from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Gabelli boosted their price target on shares of Penske Automotive Group from $68.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $55.57.
Penske Automotive Group (PAG) opened at $48.13 on Monday. The company has a market cap of $4,128.02, a PE ratio of 11.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46. Penske Automotive Group has a 12-month low of $38.33 and a 12-month high of $54.83. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.01 and a quick ratio of 0.22.
Several hedge funds have recently made changes to their positions in the company. J. Goldman & Co LP acquired a new position in shares of Penske Automotive Group during the fourth quarter worth approximately $383,000. Phocas Financial Corp. lifted its position in shares of Penske Automotive Group by 86.3% during the fourth quarter. Phocas Financial Corp. now owns 220,978 shares of the company’s stock worth $10,574,000 after purchasing an additional 102,348 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Penske Automotive Group by 8.1% during the fourth quarter. Macquarie Group Ltd. now owns 21,300 shares of the company’s stock worth $1,020,000 after purchasing an additional 1,600 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of Penske Automotive Group during the fourth quarter worth approximately $798,000. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of Penske Automotive Group during the fourth quarter worth approximately $461,000. Institutional investors own 43.15% of the company’s stock.
Penske Automotive Group declared that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.83%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, February 9th. Penske Automotive Group’s dividend payout ratio is presently 19.05%.
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Penske Automotive Group Company Profile
Penske Automotive Group, Inc is an international transportation services company. The Company 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 principally in Australia and New Zealand.
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