Equities analysts forecast that Penske Automotive Group, Inc. (NYSE:PAG) will announce sales of $5.80 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Penske Automotive Group’s earnings. The lowest sales estimate is $5.77 billion and the highest is $5.82 billion. Penske Automotive Group posted sales of $5.66 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.5%. The business is expected to announce its next earnings report on Thursday, October 24th.
According to Zacks, analysts expect that Penske Automotive Group will report full year sales of $22.86 billion for the current fiscal year, with estimates ranging from $22.74 billion to $22.93 billion. For the next year, analysts forecast that the business will post sales of $23.56 billion, with estimates ranging from $22.88 billion to $23.94 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Penske Automotive Group.
Penske Automotive Group (NYSE:PAG) last issued its earnings results on Tuesday, July 30th. The company reported $1.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.59 by ($0.17). The business had revenue of $5.76 billion for the quarter, compared to analyst estimates of $5.90 billion. Penske Automotive Group had a return on equity of 16.56% and a net margin of 2.00%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the company posted $1.58 earnings per share.
Shares of NYSE:PAG traded down $0.28 on Tuesday, reaching $42.11. 13,948 shares of the company’s stock were exchanged, compared to its average volume of 372,514. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 7.92, a PEG ratio of 1.43 and a beta of 1.32. Penske Automotive Group has a fifty-two week low of $38.49 and a fifty-two week high of $53.84. The business’s 50-day moving average is $44.69 and its two-hundred day moving average is $44.76. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.80.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 9th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.60 annualized dividend and a yield of 3.80%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.39. Penske Automotive Group’s dividend payout ratio (DPR) is currently 29.96%.
In other Penske Automotive Group news, EVP Shane M. Spradlin sold 2,656 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $44.05, for a total value of $116,996.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Robert H. Kurnick, Jr. sold 8,579 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $46.05, for a total value of $395,062.95. Following the completion of the sale, the president now directly owns 98,509 shares of the company’s stock, valued at approximately $4,536,339.45. The disclosure for this sale can be found here. Company insiders own 42.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Colony Group LLC lifted its stake in shares of Penske Automotive Group by 122.0% in the 2nd quarter. Colony Group LLC now owns 13,532 shares of the company’s stock valued at $640,000 after acquiring an additional 7,436 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Penske Automotive Group during the second quarter valued at about $5,693,000. Price T Rowe Associates Inc. MD grew its position in shares of Penske Automotive Group by 3.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,675 shares of the company’s stock valued at $410,000 after purchasing an additional 249 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Penske Automotive Group by 3.7% during the second quarter. UBS Asset Management Americas Inc. now owns 52,825 shares of the company’s stock valued at $2,499,000 after purchasing an additional 1,862 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Penske Automotive Group during the second quarter valued at about $3,503,000. 44.72% of the stock is owned by hedge funds and other institutional investors.
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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