Penske Automotive Group Inc. Plans Quarterly Dividend of $0.17 (PAG)
Penske Automotive Group (NYSE:PAG) announced a quarterly dividend on Wednesday, October 23rd, AR Network reports. Investors of record on Monday, November 11th will be paid a dividend of $0.17 per share on Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.64%.
Several analysts have recently commented on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research note to investors on Monday. On a related note, analysts at Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Penske Automotive Group in a research note to investors on Wednesday, October 2nd. Finally, analysts at Zacks upgraded shares of Penske Automotive Group from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, September 11th. They now have a $51.00 price target on the stock. One 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. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.00.
Penske Automotive Group (NYSE:PAG) traded down 3.90% on Wednesday, hitting $39.92. 232,698 shares of the company’s stock traded hands. Penske Automotive Group has a 1-year low of $26.10 and a 1-year high of $43.19. The stock’s 50-day moving average is $39.7 and its 200-day moving average is $33.6. The company has a market cap of $3.601 billion and a price-to-earnings ratio of 17.92.
Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.64 by $0.07. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts expect that Penske Automotive Group will post $2.70 EPS for the current fiscal year.
Penske Automotive Group, Inc is an automotive retailer. The Company is engaged in the sale of new and used motor vehicles and related products and services, including vehicle service, collision repair, and placement of finance and lease contracts, third-party insurance products and other aftermarket products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.