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

Analysts expect Penske Automotive Group, Inc. (NYSE:PAG) to post $1.00 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Penske Automotive Group’s earnings, with estimates ranging from $0.97 to $1.01. Penske Automotive Group posted earnings of $0.91 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.9%. The firm is expected to announce its next earnings results on Tuesday, February 6th.

On average, analysts expect that Penske Automotive Group will report full year earnings of $4.30 per share for the current fiscal year, with EPS estimates ranging from $4.25 to $4.40. For the next fiscal year, analysts forecast that the firm will report earnings of $4.58 per share, with EPS estimates ranging from $4.34 to $4.90. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Penske Automotive Group.

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

PAG has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Tuesday, December 26th. ValuEngine raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Gabelli boosted their target price on shares of Penske Automotive Group from $68.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Northcoast Research initiated coverage on shares of Penske Automotive Group in a research report on Thursday, September 28th. They set a “buy” rating and a $56.00 target price for the company. Finally, KeyCorp reissued a “hold” rating on shares of Penske Automotive Group in a research report on Wednesday, October 4th. 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 stock. The company presently has a consensus rating of “Hold” and a consensus price target of $55.71.

In other news, CFO John D. Jr. Carlson sold 7,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $46.20, for a total transaction of $323,400.00. Following the completion of the transaction, the chief financial officer now owns 24,844 shares of the company’s stock, valued at $1,147,792.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shane M. Spradlin sold 3,188 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $47.41, for a total transaction of $151,143.08. The disclosure for this sale can be found here. 40.70% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PAG. The Manufacturers Life Insurance Company raised its position in shares of Penske Automotive Group by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock valued at $110,000 after buying an additional 175 shares during the last quarter. Commonwealth Equity Services Inc acquired a new position in shares of Penske Automotive Group during the third quarter valued at about $199,000. Jane Street Group LLC acquired a new position in shares of Penske Automotive Group during the third quarter valued at about $201,000. Oppenheimer & Co. Inc. acquired a new position in shares of Penske Automotive Group during the second quarter valued at about $206,000. Finally, Stephens Inc. AR acquired a new position in Penske Automotive Group in the third quarter worth about $230,000. 41.40% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group (PAG) opened at $48.21 on Thursday. The firm has a market cap of $4,103.15, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.03. Penske Automotive Group has a 52-week low of $38.33 and a 52-week high of $55.26.

Penske Automotive Group declared that its Board of Directors has approved a share buyback plan on Wednesday, October 25th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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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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