Penske Automotive Group, Inc. (PAG) Expected to Post Earnings of $1.00 Per Share

Analysts forecast that Penske Automotive Group, Inc. (NYSE:PAG) will announce earnings per share of $1.00 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Penske Automotive Group’s earnings, with the lowest EPS estimate coming in at $0.97 and the highest estimate coming in at $1.01. Penske Automotive Group posted earnings per share of $0.91 in the same quarter last year, which would indicate a positive year over year growth rate of 9.9%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 6th.

According to Zacks, analysts expect that Penske Automotive Group will report full-year earnings of $4.30 per share for the current financial year, with EPS estimates ranging from $4.25 to $4.40. For the next financial year, analysts expect that the company will report earnings of $4.59 per share, with EPS estimates ranging from $4.34 to $4.90. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Penske Automotive Group.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. Penske Automotive Group had a net margin of 1.75% and a return on equity of 18.68%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period last year, the firm posted $1.03 EPS. The company’s revenue was up 7.2% on a year-over-year basis.

A number of equities research analysts have issued reports on the stock. Gabelli increased their price objective on shares of Penske Automotive Group from $68.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Friday, October 20th. KeyCorp reaffirmed a “hold” rating on shares of Penske Automotive Group in a report on Wednesday, October 4th. Berenberg Bank assumed coverage on shares of Penske Automotive Group in a report on Wednesday, October 4th. They set a “hold” rating and a $52.00 price objective for the company. Finally, ValuEngine raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Penske Automotive Group currently has a consensus rating of “Hold” and an average price target of $56.00.

Shares of Penske Automotive Group (NYSE PAG) traded down $0.62 on Thursday, reaching $48.36. 569,033 shares of the company’s stock were exchanged, compared to its average volume of 466,585. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.23 and a current ratio of 1.04. Penske Automotive Group has a twelve month low of $38.33 and a twelve month high of $56.05. The stock has a market cap of $4,057.69, a price-to-earnings ratio of 11.13, a P/E/G ratio of 1.70 and a beta of 1.47.

Penske Automotive Group declared that its board has authorized a share repurchase plan on Wednesday, October 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be issued a $0.33 dividend. The ex-dividend date is Thursday, November 9th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.73%. Penske Automotive Group’s dividend payout ratio (DPR) is 30.99%.

In related news, EVP Shane M. Spradlin sold 3,188 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $47.41, for a total value of $151,143.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Corp Penske bought 1,103,996 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was acquired at an average cost of $45.29 per share, with a total value of $49,999,978.84. Following the completion of the acquisition, the insider now owns 11,564,576 shares of the company’s stock, valued at approximately $523,759,647.04. The disclosure for this purchase can be found here. Company insiders own 40.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Investment Management Company LLC purchased a new position in Penske Automotive Group during the second quarter worth $14,689,000. Point72 Asset Management L.P. purchased a new position in Penske Automotive Group during the third quarter worth $22,206,000. Fiduciary Management Inc. WI boosted its stake in Penske Automotive Group by 26.9% during the third quarter. Fiduciary Management Inc. WI now owns 1,849,553 shares of the company’s stock worth $87,983,000 after buying an additional 391,808 shares during the period. Deprince Race & Zollo Inc. purchased a new position in Penske Automotive Group during the third quarter worth $17,842,000. Finally, Koch Industries Inc. purchased a new position in Penske Automotive Group during the second quarter worth $315,000. 41.39% of the stock is owned by hedge funds and other institutional investors.

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About Penske Automotive Group

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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Earnings History and Estimates for Penske Automotive Group (NYSE:PAG)

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